Olivetree Securities Updates OTAS for UK-Based Best Ex
The move comes as recent findings from the UK's Financial Conduct Authority (FCA) on the rules of best execution observed that many firms do not understand key elements of the rules. The regulator therefore expects all firms to review their best execution arrangements and take immediate action to comply with the rules.
“The FCA’s thematic review of best execution has highlighted the need for the industry to improve its practices. This improvement needs to be centred on monitoring and management of both explicit and non-explicit costs. By adopting OTAS TradeShaper for best execution monitoring, we are taking the important and necessary steps required by the FCA to ensure we have the best possible processes in place to protect our clients’ interests and fulfil our obligations,” says Mark Kelly, CEO at Olivetree Securities Europe.
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