MiFiD II came into force about a month ago but firms within the financial industry continue to integrate new MiFiD II-compliant tools and services. FlexTrade and State Street have joined BestX’s list of customers.
Flextrade’s FlexTRADER EMS will be integrating BestX trade analytics solution for FX, where users are able to analyze their FX executions in real-time, delivering transparency to enable better decision making whilst meeting the needs of MiFID II compliance for FX trading.
![Marek Lewandowski, FX Sales Director at FlexTrade UK](https://theindustryspread.com/wp-content/uploads/2018/02/Marek-Lewandowski-200x300.jpg)
“We are excited to partner with BestX to offer their advanced analytics capabilities to our clients,” said Marek Lewandowski, FX Sales Director at FlexTrade UK. “With MiFID II legislation now in full effect, clients are focused on ensuring that meeting regulatory requirement doesn’t create additional work for the trading desk. FlexTRADER’s latest integration with BestX helps clients to ensure they are working to achieve best execution without disrupting their workflow.”
Oliver Jerome, Co-Founder of BestX, said: “We are delighted to offer mutual clients connectivity between BestX and FlexTRADER, further automating the user-experience in the pursuit of efficiency and transparency for the client. With FlexTrade as a partner we are moving closer towards our goal of being the industry standard for FX TCA.”
![Oliver Jerome, Co-Founder of BestX](https://theindustryspread.com/wp-content/uploads/2018/02/Oliver-Jerome-300x300.jpg)
Best execution is a top priority under the new legislation and BestX provides a transparent solution for these buy-side requirements through a complete range of automated and customizable reporting for compliance departments, regulators, asset owners and counter-party reviews, as well as ad-hoc reporting issued by portfolio/trader/currency/value.
State Street’s FX Connect, its market-leading FX execution venue, is also adhering to BestX in order to offer transaction cost analysis (TCA) solutions globally.
![David Newns, head of execution solutions for Global Link,](https://theindustryspread.com/wp-content/uploads/2018/02/David-Newns.jpg)
David Newns, head of execution solutions for Global Link, State Street’s suite of e-trading platforms, technology, data and workflow solutions, said: “With a continued emphasis on best execution driven by regulation, market participants are increasingly looking for holistic solutions to be compliant. We are pleased to be partnering with BestX in order to provide just this with tailored solutions for our clients’ specific needs.”
BestX’s Oliver Jerome commented: “We are delighted to announce the integration of BestX into the FX Connect transaction workflow. FX Connect and BestX have many mutual clients, our platforms are extremely complementary to one another, and the potential benefits to the buy-side from this partnership are significant. This integration is a key milestone for us in the path to being the industry standard for FXTCA.”