ENSO, a NEX Group business and portfolio finance and centralized treasury management solution for the buy-side, plans to expand the ENSO Broker Vote tool (“Broker Vote”) to include MiFID II research consumption, powered by RSRCHXchange, the MiFID II compliant marketplace for institutional research. The expanded tool will provide buy-side institutions with evidence-based evaluation of research providers and budget setting to comply with upcoming 2018 regulatory requirements.
The expanded Broker Vote tool will provide clients with a clear methodology for research payments, fully validating how payments for research were reached based on the quantity and quality of services provided. In addition, ENSO clients will be able to value each research provider based on their total consumption, wallet commissions and overall quality ratings.
Matthew Bernard, Chief Executive Officer of ENSO, said: “MiFID II is a key focus not only for our clients, but for the broader marketplace in 2017. By expanding our Broker Vote tool we are able to deliver an enhanced solution to address the pivotal research requirements for both our sell-side and buy-side clients alike. At NEX, we have a strong history of partnering with businesses that are addressing tomorrow’sissues. We are excited to collaborate with RSRCHXchange to solve this problem for our clients and the market.”
Vicky Sanders, Co-Chief Executive Officer of RSRCHXchange, said: “We are excited to be working with ENSO and enhancing their Broker Vote tool. They are award-winning innovators and they are providing the industry with an evidenced Broker Vote tool, which is not only MiFID II compliant, but also best in breed.”