Using internalization to provide business value beyond compliance.
Regulatory rules governing trading outside of regulated markets vary by region and type of activity, but compliance – and enforcement – typically relies on audit records. Auditing is a key function offered by the Itiviti Internaliser platform. This is built with flexibility, high performance and automation in mind to provide significant business benefits outside the regulatory scope.
The modular design of the matching engine allows for different matching models to address asset class specific needs, using orders, quotes and RFQs. The matching engine is part of the Tbricks by Itiviti ecosystem, enabling standard market making tools as well as order flows, algos and Smart Order Routing.
Integration with external systems is easily done for orders, RFQs and prices using the industry standard FIX protocol.
Market Makers and principal trading desks can provide a valuable service to agency desks by facilitating trades against their own accounts. Firms using this option on a large scale will most likely register as Systematic Internalisers, but the Itiviti Internaliser platform provides business benefits even if high volumes are not a requirement. It can support any level of internalization to stay both MiFID II compliant and efficient.
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