Leave the Data to Us
For over four decades, Abel Noser has been using detailed benchmark data analysis to help clients trade more efficiently and gain alpha. Our global compliance and trade surveillance products offer comprehensive and versatile features that help asset owners and investment firms comply with various data-driven regulations while ensuring ongoing monitoring capabilities. None of this could be possible without the depth of knowledge and market understanding unique to Abel Noser Solutions. It's important for us to give back to the investment community that we serve. Here are some articles derived from our research and collective insight.
For several years, we have been alerting asset owners and investment managers about both the opportunities and potential unintended pitfalls associated with the Markets in Financial Information Directive II’s (MiFID II) research unbundling rules. To be sure, we support the increased transparency and accountability engendered by the new rules. However, we have also cautioned asset owners to be
In the first quarter of 2020, new regulations are scheduled to go into effect which amend SEC Rule 606 to require that broker-dealers disclose “enhanced information about the way they handle investors’ orders.” Broadly speaking, these amendments will collectively enable managers to ...
The SEC has finalized their comments on the revised Rule 606. Barring any last-minute changes, the implementation dates are now set. Read on to view a compliance date matrix. Here are also some thoughts on the 606 timeline (including some not so obvious implications) ...
In this second article of our series on the growing regulatory focus on best execution, we’re taking a quick look at the recently adopted amendments to the SEC Rule 606 “that will require broker-dealers to disclose to investors new and enhanced information about the way they handle investors’ orders.”1 Despite the changes and delays common to regulatory evolution, the new 606 reporting requirement deadlines are fast approaching. More importantly, the updated rule holds the potential to transform the traditional broker/client relationship.
When confounded by the threshold test for obscenity in 1964, Associate Justice of the Supreme Court of the United States, Potter Stewart, famously remarked “I know it when I see it." To a great degree, the same is often said about best execution in the securities market. Traders and managers will often struggle to explain or define best execution but consistently profess “I know it when I see it” or, just as often, “I know it when I don’t see it!”
But with last year’s introduction of MiFID II/PRIIPs in Europe, and the Office of Compliance Inspections and Examinations (OCIE) alert memo on best execution, and this year’s restructuring of the 606 broker execution reporting requirements, the days of “I know it when I see it” are certainly past. ...
Index tracking portfolios currently hold more than 29% of US stocks and are projected to top 50% as soon as 2021, according to Moody’s Investor Service. Less conservative projections suggest that passive investors are on track to own 100% - that is to say, everything - by 2030. This idea is implausible for any number of reasons, and of course we do not expect ...
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