Colt is expanding the Colt PrizmNet financial extranet in North America to include a range of US and Canadian financial content providers, FX venues and technology providers, including Hotspot, Nasdaq and Omega ATS.
Colt is also expanding its local presence by appointing a new North American head of sales for capital markets, John Faccibene. Meanwhile, Colt veteran, Julie Hutchinson, is also assuming a new role as head of capital markets solutions for North America.
Faccibene and Hutchinson will be responsible for growing Colt’s capital markets business in North America by developing existing relationships and adding new clients, as well as further building the Colt PrizmNet community in the region.
Terence Chabe, business development manager, Colt PrizmNet, and John Sullivan, head of Capital Markets USA, at Colt Technology Services talk to Profit & Loss about the challenges posed by Mifid II compliance.
Profit & Loss: Are you currently seeing a disparity between different market participants in terms of how ready they are for Mifid II?
Terence Chabe: The sell-side seems to be more ready for Mifid II, as they’ve made an investment to ensure compliance. It’s really on the buy-side where we see less preparation, and they might not necessarily have the same infrastructure or funds available to make sure that they’re compliant with some of the technical requirements of Mifid II.