Case studies
INFORALGO TRAX INTERFACE
Markets in Financial Instruments Directive (MiFID):
The Markets in Financial Instruments Directive (MiFID) is one of the biggest challenges the financial services sector in Europe has faced in recent times. All parties that operate in the international capital markets must be prepared for change. Legislators and regulators are already making the changes necessary to national law and rulebooks in order to give investment firms time to meet the MiFID implementation deadline of November 1st, 2007.
Firms such as Renaissance Capital are seeking solutions to ensure that they are MiFID compliant in addition to meeting their general operational requirements. Read below to find out why they chose the new Inforalgo TRAX verion 2 interface.
Renaissance Capital:
Renaissance Capital Limited (RCL) is the fast growing London subsidiary of one of Russia’s leading domestic Investment Banks. It is authorised in London by the Financial Services Authority as a “Category A” broker and is able to carry out investment business for equities, fixed income securities and arranging and advising on corporate finance matters.
With an ongoing commitment to be the first and best port of call for any international institution wishing to invest in Russia, RCL strives to constantly improve the service to its customers.
Renaissance Capital has been a member of the London Stock Exchange for nearly five years and needed the TRAX interface between their internal in-house “daVinci” system and the ICMA TRAX reporting system to report trades to the London Stock Exchange and the Financial Services Authority.
“We have been a user of the Inforalgo TRAX system for some time as we needed accurate, timely reporting to the LSE/FSA through TRAX. The new Inforalgo TRAX2 Interfacing software will offer us an enhanced interface through to TRAX2 which will enable us to cope with our current growth rate and give us enhanced enquiry and viewing functionality.”
Gary Tebbutt
Renaissance Capital, London
Inforalgo:
Originally founded in 1980, Inforalgo is a premier provider of systems integration and computer connectivity. Inforalgo has continually expanded its competence in the provision of financial dealings services.
Providing interfaces between information providers, back office systems and an organisation's own internal computer networks which now encompasses such providers as Reuters, ICMA, Thomson and Euroclear, Inforalgo has grown its world-wide customer base by providing integration solutions and support services for Real-Time environments.
Trade Entry, Extended Trade Entry, Trade Amendment, Extended Trade Amendment and Trade Cancel, plus the ISO 15022 TRAX messages, are all supported by Inforalgo’s STi Interface, which is fully conformant with the new ICMA FSP Host Interface specification and ICMA Reporting time constraints.
Benefits of the new TRAX2 Interface include:
• File enquiry and maintenance modules enable the user to examine the status of stored
transactions and thus improve the speed at which reported errors are detected and
corrected.
• Audit trail of New, Replacement, Cancel and Advisory Actions.
• Universal Viewer that is client configurable. Data can be stored, viewed and archived
at the client’s choice and data warehousing is therefore an option
• Synchronisation with the trade information held on the participants host system in
line with the TRAX2 Host system up to the last real time enquiry request.
• Monitoring module reports any system or trade errors via email or other method
ensuring that any issues are immediately notified to the appropriate member of staff.
Inforalgo’s support of the new TRAX platform illustrates Inforalgo’s commitment to its customers in providing them with the latest technologies on offer, and its continued close working relationship with third party vendors such as ICMA.