Best Execution Solutions

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Best Execution regulations can be complicated.

TZ is here to help.

TZ is our trade surveillance software. It’s built with PATH – the platform we use to power all of our solutions. Here are a few of the things it can do.

Exception Based Testing

Set your own benchmarks and parameters. Any transaction that doesn’t meet your criteria will generate an alert which you and your compliance team can examine.

Customisable Parameters

TZ’s settings and test parameters are entirely customisable. You’ll have complete control over the alerts you see.

Global Multi-Venue Analysis

Reference and market data is collected from over 250 global sources through our market data partners.

Preset and Bespoke Reports

TZ offers a wide range of best execution reports. This includes RTS 27 and RTS 28 reporting functionality.

Large Volume Data Handling

TZ can ingest and process extremely large volumes of data. Millions of trades can be processed every day.

Immediate Access to Data

Reports can be compiled at any time and for any date range. This means you can access all of your data at the click of a button.

MiFID II and Best Execution

Best execution regulations ensure that clients get the best possible result from traders, brokers, investment firms and asset managers. 

In 2018, ESMA introduced a new regulatory framework called MiFID II (Markets in Financial Instruments Directive II). MiFID II introduced new, stricter best execution guidelines. Firms are legally obliged to take ‘all sufficient steps’ to deliver the best result for clients.

Covered Asset Classes

You don’t need to worry about incompatible asset classes with TZ. These are the asset classes TZ can process.

Equities

Global exchange trade CASH equties. Exchange-traded derivatives thereof. 

Foreign Exchange

FX spot, FX forwards and FX swaps.

CFDs

FX, Indicies, Equities & Commodities. 

Debt Instruments

US treasuries, US agencies, US corp, EMEA & APC

ESMA Publishes Opinions on Position Limits under MiFID II

Updated Opinions on Position Limits Under MiFID II Published by ESMA On February 7th, ESMA published seven opinions on position limits regarding commodity derivatives under MiFID II/MiFIR.  The opinions published by ESMA agree with a number of proposed position limits regarding:  ICE Endex Dutch...

Non-Compliance Fines Exceed $36 Billion Since 2008 Financial Crisis

Global financial institutions have been fined over $36 billion since 2008 At the close of the decade, global fines for non-compliance with Anti-Money Laundering (AML), Know your Customer (KYC) and sanctions regulations have exceeded $36 billion since the financial crisis of 2007-2008.  2019 saw a...

FSMA Releases Brochure on MiFID II Investor Protection Rules

FSMA Publishes Educational Brochure on MiFID II Investor Protection The Financial Services and Markets Authority (FSMA) has published a brochure intended to help investors and consumers better understand their rights.  The brochure also outlines what obligations bind the firms who provide them...

MiFID III – How Regulatory Bodies Can Improve On MiFID II

REGULATORY MiFID III - How Regulatory Bodies Can Improve On MiFID II It has now been two years since MiFID II was first implemented, and its impact on investors and the markets more generally is gradually becoming clearer.  With this clarity comes a greater understanding of how some of the more...

Fifth Of UK Fund Managers Admit To Inaccurate Reporting

Fifth Of UK Fund Managers Make Reporting Errors to FCA According to data obtained under an FOI request by Duff & Phelps, approximately one-fifth of all UK fund managers are guilty of making errors in their transaction reporting to the Financial Conduct Authority (FCA).  These errors have been...

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