Colt Announces Ecosystem for MiFID II Compliance
Colt today announced that Colt PrizmNet financial extranet is enabling connectivity to a cloud-based ecosystem of MiFID II compliant solutions, helping capital markets firms deal with the various aspects of the directive, due to come into force in January 2018. Current partners include TraderServe for algorithm testing, Aquis Exchange for best execution, and TRADEcho for trade reporting.
Colt PrizmNet is a dedicated private network that links the global capital market ecosystem, connecting over 10,000 firms worldwide. The extranet provides a scalable, secure, and reliable platform to rapidly connect and support market participants in areas such as surveillance and data management, helping firms comply with the requirements of the upcoming MiFID II directive.
“MiFID II will require immense changes to participants’ technology infrastructures and deployment models of services used. Given the vast scope of these changes, there is no ‘all in one’ solution to address the new requirements. Firms will require best of breed solutions and efficient deployment models to address the different areas of the regulation. With Colt’s financial extranet we aim to bring together an ecosystem of such specialised solutions, giving firms easy access to a wide range of financial content and services. Colt PrizmNet provides an efficient delivery platform for MiFID II compliance solutions,” said Ralph Achkar, Director of Strategic Alliances, Capital Markets at Colt.
Colt PrizmNet connects over 50 exchanges and providers of financial content and services, including:
“Aquis Exchange is the first exchange in Europe to offer a fixed monthly subscription fee for equity traders”, said Sakeena Lalljee, Client Relationship Manager at Aquis Exchange. “Our fully lit order book provides firms with the ideal venue for low cost, low impact and high quality trading in accordance with MiFID II’s enhanced transparency and best execution requirements. We want it to be as easy as possible for firms to make Aquis part of their best execution strategy. Working with a large, established connectivity provider like Colt PrizmNet further simplifies access to Aquis Exchange.”
“The global capital markets ecosystem has its work cut out to get ready for MiFID II compliance. TRADEcho will simplify compliance with MiFID II’s pre- and post-trade transparency obligations with a one-stop shop solution that covers all asset classes. TRADEcho is a multi-asset-class APA solution, saving firms the trouble and expense of working with multiple APAs, while the scale of the solution provides increased anonymity for post-trade reporting.” said Daniel Shepherd, Head of Sales at TRADEcho.
“Preparing for MiFID II compliance places complex demands on capital markets participants” said Eddie Thorn, Sales Manager at SQS. “SQS has combined its world leading quality assurance and software test consultancy expertise with the unique AlgoGuard technology from TraderServe to provide a managed service solution to simplify non-live algo testing and certification, enabling firms to make sure they’re compliant well ahead of the 2018 deadline. Colt PrizmNet makes it even simpler, by providing firms with direct access to AlgoGuard, avoiding time-consuming, expensive infrastructure builds.”
For more information on Colt PrizmNet, please visit https://www.colt.net/capitalmarkets/prizmnet/
Colt provides on-demand network and communications services to information–intensive businesses across Europe, Asia and North America. Founded in 1992, there are over 5000 Colt people in local offices across 28 countries. Customers include 18 of the top 25 bank and diversified financial groups and 19 out of the top 25 companies in both global media and telecoms industries (Forbes 2000 list, 2014). In addition, Colt works with over 50 exchange venues and 13 European central banks. Colt provides businesses with reliable business grade services backed by the right choice of technology, service and commercials. When it matters, customers choose Colt. For more information, please visit www.colt.net
SQS is the world’s leading specialist in software quality. We provide end-to-end business process quality assurance for software based systems. SQS consultants identify and mitigate business risk in technology led transformations utilising standardised methodology, industrialised automation solutions, global delivery and deep domain knowledge across multiple industries. Through our specialisation we provide the objectivity which delivers certainty.
Headquartered in Cologne, Germany, the company now employs approximately 4,600 staff. SQS has offices in Germany, the UK, Australia, Egypt, Finland, France, India, Ireland, Italy, Malaysia, the Netherlands, Norway, Austria, Singapore, Sweden, Switzerland, South Africa, the UAE and the US. In addition, SQS maintains a minority stake in a company in Portugal. In 2015, SQS generated revenues of 320.7 million Euros
This position stems from over 30 years of successful consultancy operations. With over 10,000 completed projects under its belt, SQS has a strong client base, including half of the DAX 30, nearly a third of the STOXX 50 and 20 per cent of the FTSE 100 companies.
Marketing Lead, Capital Markets at Colt
+44 (0)20 7947 1035
CCgroup for Colt Capital Markets
+44 (0)20 3824 9200