The Belgian-based eXimius, a subsidiary of Business Architects International that specialises in wealth management systems, has launched the...

The Belgian-based eXimius, a subsidiary of Business Architects International that specialises in wealth management systems, has launched the eXimius Order Management System and the eXimius RSP (Retail Service Providers) Gateway. According to Peter Schramme, chief executive of eXimius, these modules comply with the MiFID "best execution" requirements, under which investment firms are required to take all reasonable steps to obtain the best possible result for its clients, taking into account relevant considerations such as price, cost, speed and the likelihood of execution and settlement. “Essentially, these are about efficiency, ensuring that firms capture client details and execute orders in the most efficient way, as soon and as quickly as possible. This is what eXimius OMS brings,” he said. In more detail, the system aims to provide routing flexibility across multiple dealing desks, execution connectivity via multiple trading venues and comes with an optional RSP gateway which connects to different RSPs (typically UK market intermediaries) to obtain the best price quotes in real time. It also provides a full audit trail of the price quotes sought, so firms have the primary information concerning their adherence to MiIFID’s "best execution".