Equiduct has released the latest in its series of sponsored white papers written by industry experts to offer an independent perspective on MiFID and its likely impact on the equities market.
The fourth white paper is titled “Pre-trade information and the advantages of consolidated data” and is available for free download from www.equiduct.eu.
Written by Marcus Hooper, the paper outlines how the ability to manage consolidated pre-trade information will directly affect how a firm performs its obligations for execution performance under MiFID. It also identifies a number of less than obvious side issues and practical considerations for firms, regulators and other interested parties looking to establish an optimum environment for pre-trade information under MiFID.
In addition to clearly detailing MiFID execution obligations, the white paper looks at a number of key consolidated pre-trade information issues, including:
– Whether price and trade consolidation are actually the same
– Ancillary execution costs
– Identifying those who will be most impacted by poor pre-trade information consolidation
– The connection between the consolidation of pre-trade information and market quality
– The role of multi-currency trading in consolidating pre-trade information
“This new white paper from Marcus Hooper quite correctly draws attention to the close relationship between pre-trade price consolidation and a firm’s management of their execution capability and suppliers,” Equiduct’s CEO Bob Fuller said. “He also highlights how MiFID reiterates the need for an alternative and viable equilibrium between competitive forces, data consolidation and open access to pre-trade information.”