Regulatory reporting and intelligence solution developer Cappitech has released its new RTS 28 Market Intelligence solution.
The new service gives financial institutions the power to leverage compliance data with electronic surveillance and analytics tools to assess its best execution capabilities in all asset classes and benchmarks performance to the industry average.
MiFID II reporting standard RTS 28 requires every financial institution operating in Europe to demonstrate their best execution practices by publishing annual reports that list their top five venues for trading on behalf of both professional and retail clients, across all asset classes.
These documents are available publicly, but they are notoriously hard to view and analyse due to their size and storage means.
Cappitech’s new RTS 28 Market Intelligence solution will give asset managers the ability to optimise performance by monitoring their execution quality compared with their peers and identify where they can improve. In addition to this, users can uncover popular execution venues, brokers and liquidity pools.
Risk managers can use the solution to identify areas of ‘significant counterparty concentration’ and better decide where execution quality might be compromised and see how other players are doing.
Ronen Kertis, CEO and Founder of Cappitech, said: “We are pleased to launch RTS 28 Market Intelligence in direct response to our customers’ concerns they were seeing little value from their regulatory reporting efforts.
“The new product will enable financial institutions to improve their competitive advantage by extracting market intelligence from reported data with the simple click of a button. This will not only provide granular analysis of a firm’s performance versus that of its peers but will also bring greater transparency to the industry.”
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