Esprow Upgrades its RegTech Platform for Automated MiFID II Certification

Esprow Pte. Ltd., a provider of enterprise testing technology for the financial markets, announced today that it has released a MiFID II adaptation of its ETP C-Box RegTech platform. The update will automate MiFID II certification of Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term members and counterparties and allow regulated firms to streamline inbound connectivity.

According to MiFID RT6, Sell-Side Sell-Side Those in the financial industry involved with the production, marketing, and the sale of bonds, forex, stocks, and other financial instruments constitute the sell-side.Products and services produced by the sell-side are geared towards those who on the buy-side. You can think of the sell-side and buy-side like a coin, you cannot have one side without the other. The sell-side is comprised of individuals, firms, fintech companies, and market makers, who are responsible for providing liquidity in th Those in the financial industry involved with the production, marketing, and the sale of bonds, forex, stocks, and other financial instruments constitute the sell-side.Products and services produced by the sell-side are geared towards those who on the buy-side. You can think of the sell-side and buy-side like a coin, you cannot have one side without the other. The sell-side is comprised of individuals, firms, fintech companies, and market makers, who are responsible for providing liquidity in th Read this Term firms are required to carry out testing of their trading systems every time “there are substantial changes to the trading system or to the access to the venue in which the algorithmic trading system is to be used”. And according to MiFID RT7, MTFs and OTFs are required to carry out annual conformance testing of every member.

Francesco Lo Conte, Managing Director at Esprow, said: “Our ETP C-Box adaptation for MiFID supports the wide range of financial firms who find themselves in need of providing members with a cost-effective environment to certify the resiliency of their connectivity and trading applications, while maintaining an accurate audit trail”.

He added: “Our platform allows multiple exchange members to connect simultaneously to staging environments and carry out tests round-the-clock and completely unsupervised. With the additional benefit of reducing the time it takes to organize and execute the on-boarding process, the ETP C-Box enables the on-boarding team to focus on other revenue-driven tasks.”