Best Execution

TZ Best Execution offers instant analysis for traders, clients, counterparties, brokers and execution desks. It fully satisfies MiFID II’s requirement that firms take “all sufficient steps” to achieve the best possible results for clients.

TZ Best Execution offers instant analysis and reporting for traders, brokers and execution desks. eflow’s software meets the MiFID best execution standards, complying with the latest requirements around the execution of transactions. MiFID initially required firms to take “all reasonable steps” to deliver the best possible results for clients; their best execution policy has now been upgraded to “all sufficient steps” in MiFID II.

TZ Best Execution offers bespoke solutions for all varieties of financial firm. The flexibility of TZ enables firms to define their own parameters and logic when implementing best execution policies. It also allows firms to provide a practical demonstration to their clients of the efforts being made to reach MiFID II compliance.

TZ Best Execution can handle large datasets and produce reports focusing on any required area. The flexibility of the software sets it apart from any other best execution software solutions.

What are the key features of TZ Best Execution?

Best execution under MiFID II means achieving the best possible result for clients when executing their orders. Our TZ Best Execution comes with the following features:

Multi-venue analysis against 250+ global venues
User defined parameters and logic, in line with MiFID II best execution policies and industry best practice
Access to all data stored in TZ, with an enhanced ability to data mine at any stage and with any parameters
The option to preset reports, set alerts or compile reports, which can be exported to Excel or PDF
Volume handling for up to millions of trades per day, enabling firms to implement MiFID best execution measures without restrictive data allowances

Does TZ Best Execution cover industry standard benchmarking?

TZ Best Execution adheres to and surpasses all industry standard benchmarks, allowing firms to review and measure their execution quality and achieve the best execution MiFID II standard. TZ Best Execution benchmarks include best bid/ask, implementation shortfall, consolidated BBO, interval VWAPs and reversion calculations.

With the expert knowledge of our industry experts and client base, the requirements necessary to meet benchmarks for best execution are continually reviewed and improved.

What Asset Classes are Covered?

TZ Best Execution Standard Alerts

TZ: Best Execution benchmarks against best bid and best ask “touch”
TZ: Best Execution benchmarks against time constraints and implementation shortfall
TZ: Best Execution benchmarks against venue
TZ: Best Execution benchmarks against a moving VWAP rather than a daily VWAP, for accuracy
TZ: Best Execution provides interactive exportable graphs

“It’s the intuitive nature of TZ that makes working with this solution so simple. The system is designed to be used by compliance and ultimately to save my time which is precious. I achieve so much more because of it.”

Compliance Officer at Top 10 Alternative Asset Manager

‘Eflow’s maturity as a software provider has restored my faith in a handshake. A promise that what was offered in project inception was delivered’

Compliance Officer at Leading UK AIM broker