Buy-Side : MiFID

What is MiFID?

MiFID is the Market in Financial Instruments Directive. The Regulation was created to drive down trading costs and bring transparency to the European market through increased competition and normalization of processes across the European Community. Specifically, it requires broker dealers to provide best execution to each of their customers – as the customer defines it. It went into full effect on November 1, 2007.

MiFID has caused market automation, fragmentation and consolidation across Europe, and those types of market restructuring events continue today.

What are hedge funds and asset managers doing about MiFID?

Many hedge funds and asset managers have a strong preference to send their orders through agency brokers operating in Europe. For this reason, Selero provides buy-side traders direct access to its Smart Order Routing software and collaborates with agency brokers to provide the anonymous execution services institutional investors are looking for.

Selero Smart Order Routing and Best Execution Technology

Selero Smart Order Routing and Best Execution Technology (SORBET) gives traders the capabilities and flexibility they seek to achieve the best execution they require. Specifically, it offers a wide variety of configurable execution strategies to choose from, and it allows traders to use those strategies as building blocks to create adaptive, hybrid, flows. Finally, it allows them to change strategies, parameters, and triggers at any time, to reflect changes in their execution priorities and changes in market conditions.

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