Trade Informatics releases compliance tools for European markets
Trade Informatics has launched PLIA, its cloud-based counterparty and comPLIAnce management tool in Europe. The US-based fintech firm worked with the regulator in the US and the UK as well as The Investment Association (IA) and the Association for Financial Markets in Europe (AFME) in response to increased demand ahead of MiFID II regulation coming into force.  The standard due diligence questionnaire (SDDQ) created enables the firm to maintain a globally consistent model recording compliance and due diligence information.

Source: Trade Informatics

Trade Informatics, a global financial technology company headquartered in the US, today announced the European launch of PLIA, its pioneering cloud-based counterparty management and comPLIAnce solution.

Responding to the industry demand for an electronic trading information platform that addresses heightened European regulatory requirements (MiFID II) and promotes associated global operational efficiency.



“The sheer bulk of MiFID II requirements and the continuing drive for operational efficiencies mean that the age old solution of 'throwing people at a problem' is simply no longer tenable.” said Allan Goldstein, COO of Trade Informatics. He added, ”The clear solution for counterparty management requirements is automation and, with over one hundred global buy and sell side firms already using it, PLIA is rapidly filling this gap.”



Trade Informatics worked with the SEC and the Financial Industry Regulatory Authority (FINRA) in the US, regulatory organisations in the UK, as well as The Investment Association (IA) and the Association for Financial Markets in Europe (AFME). Trade Informatics successfully completed the IA/AFME review for an electronic information exchange platform and demonstrated the PLIA capability to capture, maintain and facilitate the distribution and response for their recently finalised standard due diligence questionnaire (SDDQ), called “Electronic Trading Questionnaire.”



“The SDDQ created by the AFME/IA working group together with an economical cloud-based process management tool such as PLIA allows us to maintain a golden record of compliance and due diligence information,” said Gregg Dalley, Global Head of Equity Trading at Schroders Investment Management. Adding, “This also allows us to create a globally consistent model that may otherwise be spread around the firm on spreadsheets and in email.”



First envisaged by the buy-side, PLIA was architected in partnership and with critical consultative input from both buy and sell-side representatives as well as regulatory and legal professionals. PLIA supports customised solutions for Asset Managers of all sizes with an à la carte menu of features to support all price points. PLIA delivers efficiency to the counterparty risk management and best execution compliance processes and streamlines the transfer of due diligence information between asset managers and brokers.



Functioning as both an advisor and broker platform, PLIA provides a true central repository of questions and responses, a full audit trail history and dashboard overview, immediate, on-request analysis and reporting for compliance records, due diligence committees and regulatory audits. PLIA simplifies, standardises and automates workflows for counterparty risk management and operational due diligence, reduces operational overhead by systematising the process of periodic information requests and supports related regulatory requirements in the US, Europe and Asia.



Ana Burke, PLIA product manager commented, “We are delighted to be extending our PLIA web-based software to a European audience. Our clients are globally focussed and have been finding great value in using PLIA’s database of questions and ad-hoc data request coverage to answer European regulation and enterprise-wide efficiency.” Goldstein added, “We are pleased to bring Trade Informatics’ expertise and insights on best execution and transparency to enable EMEA industry participants to add meaningful qualitative insights to substantiate best-execution policies at a price point for every budget. Brokers and asset managers are increasingly looking outward for cost effective yet transformative technology to bring operational efficiency to the front and back office.”