New York
26 April 2017
Reporter: Becky Butcher
Esprow launches MiFID II compliance platform
Esprow has launched ETP GEMS, a global exchange and markets simulation platform that provides an on-demand testing environment to facilitate compliance with the second Markets in Financial Instruments Directive (MiFID II).

ETP GEMS is designed to tackle the latest MiFID II requirement to test all algorithms and certify connectivity with counterparties and trading venues, prior to market use.

The platform provides trading functionality such as the option of accessing order books, replaying market data and controlling trading behaviour, including market auctions and race conditions.

It also provides matching engine functionality and native trading connectivity, which exchanges can offer to members to facilitate connectivity and conformance testing.

The platform supports Asian exchanges including Hong Kong and Tokyo, as well as FIX exchanges. Esprow is also looking to expand to add multiple US exchanges later this year.

Francesco Lo Conte, managing director at Esprow, said: “ETP GEMS has been developed in cooperation with market participants. Our platform allows brokers to comply with MiFID II regulations when testing their connectivity and algorithms, and provides them with a 24/7 testing environment that was not previously available.”

He added: “We are also delighted that ETP GEMS will enable exchanges themselves to provide an important, on-demand algorithm testing solution for their members.”

More technology news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Nasdaq to support Chilean CSD in post-trade tech
25 May 2017 | Santiago | Reporter: Stephanie Palmer
Based on the Nasdaq Financial Framework the solution will replace Depósito Central de Valores’s existing core system
Linedata bolsters TA solution
26 April 2017 | London | Reporter: Stephanie Palmer
Linedata has upgraded it Linedata solution for transfer agents, to help clients to cope with increasing regulatory reporting requirements
Esprow launches MiFID II compliance platform
26 April 2017 | New York | Reporter: Becky Butcher
Esprow has launched ETP GEMS, a global exchange and markets simulation platform that provides an on-demand testing environment to facilitate compliance with MiFID II
SWIFT tests distributed ledger technology for reconciliations
25 April 2017 | Brussels | Reporter: Drew Nicol
The results of the proof of concept will be presented at Sibos in Toronto in October
ENSO and RSRCHX pair up for MiFID II solution
25 April 2017 | New York | Reporter: Drew Nicol
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
Law firm sees rise in fintech patents
20 April 2017 | London | Reporter: Mark Dugdale
The number of financial technology patents filed through the international system administered by the World Intellectual Property Organization has increased 49 percent in five years
Nomura taps Indian fintech start-up talent
19 April 2017 | Mumbai | Reporter: Drew Nicol
Nomura is looking to engage with Indian fintech expertise for capital market solutions
More technology news