SIA (Societ Interbancaria per l’Automazione Inter-bank Society for Automation) is to launch two new products to enable investors to identify the best financial market on which to carry out its investment transactions and manage the relationship with the broker by means of an electronic contract. The products are due to be released later this year.
The ‘execution navigator’ and the ‘electronic contract’ integrate the features of SIA-EAGLE, the first technological platform in Europe that monitors and controls all financial markets transactions and is MiFID compliant.
“The interest showed by operators confirms that the MiFID is seen as a key element of the EU Financial Services Action Plan whose aim is that of setting a single European financial services market,” says Renzo Vanetti, the CEO of SIA. “We need to innovate in order to sustain the growth of a border-free market, as well as to improve efficiency and invest at once to lower the costs of adjusting to the regulation and be in a position to compete so as to generate new economic and financial growth. SIA’s services and products will enable operators to achieve these European market competitivity goals right away.”