FlexTrade and Commensus Answer the Call Recording Need for MiFID II Compliance
Seamless Integration of Voice Recording into FlexTRADER Platform Ensures Compliance Without Disrupting Workflows
London, 24th April 2017 – Commensus, part of RedstoneConnect plc and leading provider of fully managed IT support services, announces that it will work with FlexTrade Systems, a global leader in execution and order management trading systems for equities, FX, options, futures and fixed income securities, to solve a key issue facing financial institutions, which is to ensure calls are MiFID II compliant.
FlexTrade has integrated voice recording capabilities from Commensus into FlexTRADER, its world first broker-neutral, execution management trading system, allowing traders to ensure all voice conversations and transactions are compliant with MiFID II requirements. As well as creating a recording of every voice event, this phone integration will record start timestamps and duration of phone calls to the nearest millisecond as well as recording all metadata from the call within the FlexTRADER interface.
Andy Mahoney, Business Development Director at FlexTrade UK Ltd., commented:
“Many trades still rely on phone calls and this will continue for as long as there are diverse asset classes and illiquidity in certain markets. We can now enable firms to ensure best execution and achieve MiFID II compliance by linking their phone system and their EMS/OMS. This integration offers clients a holistic view over the implementation of every trade, capturing real-world events such as phone calls, side-by-side with transactional information.”
Mark Braund, CEO of RedstoneConnect, added:
“This unique initiative will ensure clients of FlexTrade are able to perform optimally on every trade, ensuring best execution and with full confidence that compliance requirements are being met. Commensus’ innovative managed IT service capabilities have again proven their value in the European financial services sector.”
The call recording capability within FlexTRADER is available to evaluate and deploy now. FlexTrade will be showcasing the RedstoneConnect Solution at booth 15 during TradeTech 2017 on April 25th and 26th at the Palais des Congrès, Paris. For further details visit www.mifidii.uk.com
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