5 January 2018
BSO LINKS TO EMAGINE’S TIMESTAMP SOFTWARE FOR MIFID II
FOW 05/01/2018: Global network firm BSO has integrated software vendor emagine’s time-stamping suite across its international network, ensuring its users can time-stamp their trades within the parameters set by vast European directive Mifid II which entered into force on Wednesday.
In a statement on Wednesday morning, BSO said the solution, which combines the group’s global low-latency network with emagine’s Time as a Service (TaaS) suite, “will be welcomed by firms looking to time-stamp their trades within 100-microseconds”.
Under Mifid II, firms that fail to identify the exact point at which a trade has been time-stamped in line with coordinated universal time (UTC), are at risk of paying substantial fines.
Emmanuel Pellé, BSO’s chief operations officer, added:
“As market-makers continue to look for faster ways to trade, having an accurate time-stamp is imperative. Electronic trading activity not only needs to be measured in terms of latency, it also needs to be forensically assessed and monitored.”