Reuters helps firms comply with Mifid

European directive prompts information provider to address compliance on behalf of its clients

Reuters provides aggregated stock data

Reuters is launching a suite of products to enable its financial services clients to comply with the forthcoming European Markets in Financial Instruments Directive (Mifid).

The directive, which takes effect in November, requires investment firms to execute trades efficiently at the best price, publish that information and show that the best price was obtained for clients.

Reuters will offer an aggregated price for a stock even when it is traded on more than one exchange.

The data and information provider will also publish quotes and details of trades it has executed, and check that a client has obtained the best price for a trade through transaction cost analysis.

Reuters developed the products as a response to consultation with clients who requested a solution led by the market rather than external regulation.

Reuters global head of exchange traded instruments, Stephen Wilson, says Mifid is the biggest regulatory change to hit European markets in the last 20 years.

‘It’s a huge challenge for the financial services industry and that’s why we are now offering clients the key solutions they need to comply,’ said Wilson.

‘It largely uses existing technology so we can offer it to customers at a cost that will be affordable to even the smallest market participants.'