Pan-European exchange helps firms meet MiFID II best execution requirements
London, 1st June 2017 – Colt announced today that it now provides connectivity to the pan-European exchange Equiduct through its financial extranet Colt PrizmNet, making it easier for firms to meet their best execution requirements under MiFID II – the Markets in Financial Instruments Directive II. Colt PrizmNet connects to key equity trading venues as well as other asset classes, simplifying access to multiple venues through a single platform and supporting firms to fulfil their regulatory obligations.
Equiduct is a regulated market segment of the Börse Berlin, and is considered pre-trade transparent and fully MiFID compliant. It provides access to pan-European equity markets, including the Euronext area, United Kingdom, Germany, Italy, Nordics, Spain and Switzerland; combining the fragmented liquidity across European markets to deliver true best execution price formation, and access to low-impact liquidity via its retail and institutional best execution liquidity provision schemes. In 2016, €57.1bn of trades were executed on Equiduct’s platform, saving investors a total of €5.9 million.
“The Colt PrizmNet financial extranet is a valuable addition to our client-facing connectivity offering. PrizmNet is offering an excellent service when it comes to demanding connectivity solutions. Our customers are European based financial institutions and in need of a network partner with the same geographical reach,” said Artur Fischer, CEO of Equiduct, speaking from their London office. “As we move increasingly into the new MiFID II landscape, the concepts of best execution and access to additional lit liquidity are of paramount importance at a time where resources are tight. The Colt PrizmNet low-latency network and exceptional levels of customer satisfaction, make Colt an ideal partner to provide access to Equiduct’s range of MiFID II solutions.”
Equiduct brings its best execution capabilities and access to pan-European lit liquidity to the growing number of MiFID II solutions available on Colt PrizmNet, including algorithm testing, trade reporting and market surveillance.
Andrew Housden, VP Capital Markets at Colt, added: ““At Colt we are proud to deliver a reliable and efficient service to meet the demanding requirements of the financial services sector. Responding to the upcoming regulatory changes is a key challenge for our clients and many are turning to Colt and our expert team for help to comply with MiFID II. Colt’s PrizmNet extranet links the Capital Markets global community and by connecting innovative providers, such as Equiduct, we are able to expand the range of services we offer, and with great agility. This is another example of our commitment to service excellence.”
Colt PrizmNet guarantees deterministic low latencies for delivering data, software, content and financial services worldwide — helping firms to reduce slippage and lost trades, and increase algorithmic trading efficiency. For more information about Colt PrizmNet, please visit https://www.colt.net/product/financial-extranet/ or contact firstname.lastname@example.org.
Colt will be exhibiting at the 10th Annual International Derivatives Expo (IDX 2017) from the 5th to the 7th June at The Brewery in London. For more information on Colt PrizmNet and how it helps overcome regulatory challenges, please visit us at stand 40 in the Upper Sugar Room.
Notes to the editor:
*Equiduct: 2016 trading statistics
Colt provides high bandwidth services for enterprises and wholesale customers in Europe, Asia and North America’s largest business hubs. Colt enables the digital transformation of businesses through its intelligent, purpose-built, cloud-integrated network, known as the Colt IQ Network. It connects over 700 data centres around the globe, with over 24,500 on-net buildings and growing. Colt is also recognised as an innovator and pioneer in software-defined networks (SDN) and network function virtualisation (NFV).
Colt has built its reputation on putting its customers first, with a focus on delivering true local presence and agility for enterprises that are global yet need local attention. Customers include data intensive organisations spanning over 200 connected cities in nearly 30 countries. Colt counts 19 of the top 25 global telecoms companies and 18 out of the top 25 global media companies (Forbes 2000 list, 2016) amongst its customers. In addition, Colt works with over 50 exchange venues and 13 European central banks. Owned by Fidelity Investments, Colt is one of the most financially sound companies in its industry, providing the best customer experience at a competitive price. For more information, please visit www.colt.net.