Colt today announced that Colt PrizmNet financial extranet is enabling connectivity to a cloud-based ecosystem of MiFID II compliant solutions, helping capital markets firms deal with the various aspects of the directive, due to come into force in January 2018. Current partners include TraderServe for algorithm testing, Aquis Exchange for best execution, and TRADEcho for trade reporting.

Colt PrizmNet is a dedicated private network that links the global capital market ecosystem, connecting over 10,000 firms worldwide. The extranet provides a scalable, secure, and reliable platform to rapidly connect and support market participants in areas such as surveillance and data management, helping firms comply with the requirements of the upcoming MiFID II directive.                                                                                                           

“MiFID II will require immense changes to participants’ technology infrastructures and deployment models of services used. Given the vast scope of these changes, there is no ‘all in one’ solution to address the new requirements.  Firms will require best of breed solutions and efficient deployment models to address the different areas of the regulation. With Colt’s financial extranet we aim to bring together an ecosystem of such specialised solutions, giving firms easy access to a wide range of financial content and services. Colt PrizmNet provides an efficient delivery platform for MiFID II compliance solutions,” said Ralph Achkar, Director of Strategic Alliances, Capital Markets at Colt.

Colt PrizmNet connects over 50 exchanges and providers of financial content and services, including:

·         Aquis Exchange 

“Aquis Exchange is the first exchange in Europe to offer a fixed monthly subscription fee for equity traders”, said Sakeena Lalljee, Client Relationship Manager at Aquis Exchange. “Our fully lit order book provides firms with the ideal venue for low cost, low impact and high quality trading in accordance with MiFID II’s enhanced transparency and best execution requirements. We want it to be as easy as possible for firms to make Aquis part of their best execution strategy. Working with a large, established connectivity provider like Colt PrizmNet further simplifies access to Aquis Exchange.”

·         TRADEcho

“The global capital markets ecosystem has its work cut out to get ready for MiFID II compliance. TRADEcho will simplify compliance with MiFID II’s pre- and post-trade transparency obligations with a one-stop shop solution that covers all asset classes. TRADEcho is a multi-asset-class APA solution, saving firms the trouble and expense of working with multiple APAs, while the scale of the solution provides increased anonymity for post-trade reporting.” said Daniel Shepherd, Head of Sales at TRADEcho.

·         TraderServe/ SQS

“Preparing for MiFID II compliance places complex demands on capital markets participants” said Eddie Thorn, Sales Manager at SQS. “AlgoGuard helps by simplifying non-live algo testing and certification, and enabling firms to make sure they’re compliant well ahead of the deadline. Colt PrizmNet makes it even simpler, by providing firms with direct access to AlgoGuard, avoiding time-consuming, expensive infrastructure builds.”