Integral Development Corp has received approval from the UK’s Financial Conduct Authority (FCA) to operate a multilateral trading facility.
The firm says the MTF, the technology for which is based upon its Open Currency Exchange (OCX) platform, includes all the features and services necessary for clients to conduct MiFID II compliant trading.
It adds the MTF will provide enhanced surveillance practices, monitoring procedures, and execution analysis for transparent and compliant trading of FX forwards, swaps, and NDFs.
Integral says it will deliver its entire platform with services necessary to meet MiFID II requirements including assistance with pre-trade and post-trade transparency, surveillance, TCA, reporting, and record keeping. It adds that because the MTF is built on cloud-based technology, Integral can apply best practices for MiFID II compliance for all customers while also customising the venue to meet each customer’s unique requirements. As interpretations evolve, Integral can accommodate the changes through simple configuration, it adds.
“We are excited that the FCA has approved Integral MTF,” says Harpal Sandhu, Integral CEO. “We have worked extensively with our customers to deliver an MTF that lessens the impact of MiFID II on their businesses and takes the risk and confusion out of meeting reporting and best execution requirements.”