The NEX Group's ENSO, a centralised treasury management solution for the buy side, is set to expand its broker vote tool to include research consumption for the second Markets in Financial Instruments Directive (MiFID II).
The new feature will be powered by RSRCHXchange, the MiFID II compliant marketplace for institutional research.
ENSO promises that the expanded tool will provide buy-side institutions with evidence-based evaluation of research providers and budget setting to comply with upcoming 2018 regulatory requirements.
Clients will gain a clear methodology for research payments, fully validating how payments for research were reached based on the quantity and quality of services provided.
RSRCHXchange is the latest company to join Euclid Opportunities portfolio, NEX Group’s financial technology investment business.
RSRCHX, RSRCHXchange’s marketplace and MiFID II workflow solution for institutional research, was launched in 2015, in anticipation of the unbundling rules which come into force in January 2018.
Matthew Bernard, CEO of ENSO, said: “MiFID II is a key focus, not only for our clients but for the broader marketplace in 2017. By expanding our broker vote tool we are able to deliver an enhanced solution to address the pivotal research requirements for both our sell-side and buy-side clients alike.”
"At NEX, we have a strong history of partnering with businesses that are addressing tomorrow's issues. We are excited to collaborate with RSRCHXchange to solve this problem for our clients and the market.”
Vicky Sanders, co-CEO of RSRCHXchange, added: "We are excited to be working with ENSO and enhancing their broker vote tool. They are award-winning innovators and they are providing the industry with an evidenced broker vote tool which is not only MiFID II compliant but also best in breed.”
.jpg)