Knowledge Technology Solutions PLC
30 October 2006
RNS release
30 October 2006
KTS offers MiFID solutions for financial securities firms
KTS PLC (AIM: KTS), providers of market information services in the finance
sector, is today announcing a number of new MiFID solutions. These additional
services will be fully integrated with KTS' real-time market data display
service, MarketTerminal.
The new solutions will assist investment firms, asset managers and stock brokers
to comply with MiFID, the European Markets in Financial Instruments Directive
when it is introduced on 1 November 2007. The purpose of MiFID is to create
transparency throughout the European Union for traders dealing in all
securities. It is hoped MiFID will lead to greater competition in financial
markets. However, MiFID imposes a number of compliance issues on financial
firms. Some of these are expected to require significant investment by market
participants, particularly in the areas of information technology, data access
and storage.
KTS is initially addressing MiFID requirements in three major areas which are
currently already well defined: pre-trade transparency, post-trade analysis and
compliance reporting. Additional functionality is now offered on KTS
MarketTerminal, the company's proven financial information application currently
used by 130 client organisations throughout the UK, to assist financial firms
address MiFID.
First, KTS is adding to MarketTerminal the capability to display quotes or
orders from multiple transaction venues. This allows clients to simultaneously
assess trade opportunities available at all transaction venues included in its
best execution policy - a requirement under MiFID.
The choice of transaction venues is set to increase substantially in number
under MiFID as investment banks acting as 'systematic internalisers' compete
alongside multi-lateral trading facilities with traditional exchanges such as
the London Stock Exchange.
Integrated within MarketTerminal, the composite pre-trade quote view also offers
customisable best-execution cost evaluations in real time. This enables clients
to carry out comprehensive transaction cost analysis in real time and allows
better and more efficient identification of best execution venues.
A second element of the suite of KTS MiFID solutions on MarketTerminal is its
post-trade transaction analysis functionality. This allows clients to assess
compliance with best execution more readily. Customers' compliance officers can
configure MarketTerminal to tag any of their firms' trades which fall outside of
normal price parameters e.g. those significantly above the market's volume
weighted average price (VWAP). Clients will therefore be able to identify any
unusual trades, and shortlist those for further internal investigation.
The third major benefit for users is compliance reporting and data storage.
Clients will be able to access every transaction made and every quote offered
over a minimum of five years, as required under MiFID. Not only this, there will
be a convenient report macro built into the platform, that in a few mouse clicks
will produce a standard report for clients or the financial industry regulator
to demonstrate compliance with the firm's stated best execution policy.
Dr Marc Pinter-Krainer, Chief Executive of KTS PLC, said:
'Our technology offers a powerful and cost-effective solution to many MiFID
requirements. We have worked closely with the industry and our research shows
that, above all, clients want a MiFID solution that is easy and quick to
implement. Firms may see MiFID as merely a compliance issue, however, it is our
view that MiFID presents them with a real business opportunity for which the
speed, versatility and efficiency of our MarketTerminal platform will give them
a genuine advantage.'
Contacts:
Dr Marc Pinter-Krainer Neil Boom
Knowledge Technology Solutions PLC Gresham PR Ltd.
020 7256 2300 020 7404 9000
Financial firms can request a free illustration and evaluation of KTS's new
suite of MiFID solutions on MarketTerminal by telephoning 020 7256 2300.
Notes to Editors
About Knowledge Technology Solutions PLC
Knowledge Technology Solutions PLC is an innovative provider of financial market
data application services and the company is listed on the Alternative
Investment Market of the London Stock Exchange (ticker symbol: KTS).
Utilising its proprietary advanced technologies, KTS focuses on developing and
providing real-time market data services to the financial marketplace by
delivering essential market data and news via more cost-effective communications
channels.
KTS differentiates itself from other leading information providers as its
services are technology driven. They are designed to run on standard PCs and
laptops without the need for any installation of dedicated hardware, software or
infrastructure, as the application runs on the server side on powerful clusters
of highly resilient and secure servers.
Financial professionals can log on to KTS's services by using a standard
Internet connection from any geographical location across fixed and wireless
networks. KTS's 'zero-client' application service requires no client-side
components and upgrades are automatic. Other benefits include flexibility and
cost savings in support and maintenance using any market data infrastructure.
More than 130 client organisations currently subscribe to KTS's financial
information service KTS MarketTerminal.
This information is provided by RNS
The company news service from the London Stock Exchange
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Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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