LONDON, November 28, 2018
LONDON, November 28, 2018 /PRNewswire/ --
Droit Financial Technologies ("Droit") has extended its award winning Adept platform to support a UK/Brexit Rulebook, with initial delivery made to several global financial institutions. The successful industry adoption of the Droit Adept platform has been further recognised with Risk announcing that it has won 2019 MiFID II Product of the Year.
The expected Brexit regulatory scenario of EU regulations such as EMIR and MiFID2/MIFIR initially transposed into UK domestic law, with transparency divergence expected, is now supported within Droit's Adept platform. Within client systems the Rulebook operates alongside existing support for EMIR and MiFID2/MIFIR regulatory decision making and ESMA reference data services.
These extensions include the necessary preparation for the creation of FCA transparency and liquidity reference data sources. They incorporate the digitisation of relevant regulations, directives and RTS's and linking the new FCA mandates to their UK legal sources as and when published.
"Within our global bank client community, there is a clear desire for a comprehensive, cost-effective and timely Brexit solution. This extension to the Droit platform enables our clients to have a fairly seamless migration to the UK Rulebook in terms of real-time per-trade decision making," Keith Tippell, Head of Business Development, Europe and APAC at Droit.
Droit enables financial institutions to implement a multi-jurisdictional, cross asset class and cost-effective approach to regulatory pre-trade decision making and the accurate execution of pre- and post-trade obligations, including regulatory reporting. MiFID II is one of 18 global regulations currently supported by Droit.
"Droit is proud to be a critical component of a successful MiFID II implementation for a wide range of global banks, processing millions of trades per day. We support all current G20 regulatory regimes, with logic representing industry consensus, generating the full global cross-regulatory implications and obligations of a trade in real-time. Our platform provides complete auditability and traceability through to fully digitised regulatory text: our clients find it invaluable to prove to themselves and regulators that their decision making for each transaction is accurate and complete with respect to the laws in force at that time," Joceline Zheng, Head of Product at Droit.
Droit automates global regulations and market micro-structure within real-time trading systems, creating intelligence platforms merging finance and computational law. In December 2016, Droit announced a $16 million Series A investment from Goldman Sachs, Wells Fargo, DRW Trading and Pivot Investment Partners.
The firm was founded in 2012 by a team of veteran derivative traders, quants, ecommerce specialists and technologists with front-line experience and expertise with products, markets, regulations and systems.
Droit has offices in New York City and London. For more visit http://www.droit.tech.
If you would like to schedule a demo or obtain more information about Droit's products please contact us using firstname.lastname@example.org.
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