Thomson Reuters (NYSE:TRI) has unveiled a number of upgrades to its existing data analytics platform, Thomson Reuters Velocity Analytics, which will now be fully MiFID II-ready ahead of the new regulations passing next year, per a Thomson Reuters statement.
Given the new enhancements, Thomson Reuters Velocity Analytics will enable ultra-high-speed processing of real-time, streaming and historical data, emphasizing both EU and non-EU financial markets participants meeting their respective MiFID II obligations.
MiFID II Focus
The Velocity Analytics platform also caters to financial institutions, helping develop market-making trading strategies, perform real-time market monitoring, and regulatory compliance checks. The solution is currently utilized by hedge funds, proprietary arbitrage trading desks, brokerage firms, exchanges, regulatory agencies, algo execution desks, and others.
In addition, the enhanced platform will also be powered by Kx’s technology, a provider or real-time and historical data feeds. In addition to meeting all MiFID II requirements, the upgraded platform will support a range of new multi-asset best execution and systematic internaliser (SI) determination capabilities from Thomson Reuters over the next year, extending into 2018.
By deploying Kx’s technology, the Velocity Analytics platform will also be able to process larger swaths of data from a multitude of different sources, all in real-time. The Velocity Analytics platform will also be integrated into Thomson Reuters Enterprise Platform, allowing financial institutions to strengthen infrastructure investments with the goal of accessing more robust streaming analytics.
According to Brennan Carley, Head of Enterprise Propositions at Thomson Reuters, in a statement on the platform expansion: “MiFID II compliance is fundamentally a data challenge and the work we have been doing to completely reengineer Velocity Analytics will support financial markets participants looking for best execution, transaction costs analysis, and other high performance trading analytics.”
“We want to make it as easy and cost-effective as possible for our clients to comply with the MiFID II requirements and take advantage of their existing infrastructure investments, while helping them to prepare for new opportunities for their businesses post-January 2018,” he reiterated.