CLP.L Regulatory News (CLP)

24 Nov 2006 07:01

Brainspark PLC24 November 2006 FOR IMMEDIATE RELEASE 24 November 2006 BRAINSPARK PLC ("Brainspark") Update on Investee Company (TraderServe) Brainspark is pleased to note that TraderServe, a City-based company in whichBrainspark holds a 34.6% holding, has launched a new range of products forcompliance with MiFID Best Execution Requirements. This is a significantdevelopment for TraderServe after a long period of development and is expectedto be adopted widely by Investment Managers seeking to comply with FSArequirement on Best Execution. The new products line includes Instantaneous Net Best Execution to a Choice ofExecution Venues, Market Impact Control by Working Orders Over Time to One orMore Venues, and Transparent Proof of Best Execution for SystematicInternalisers. In monitoring the effectiveness of the strategy including marketimpact minimisation, results can be evaluated against a number of benchmarks,including standards such as market VWAP and other more rigorous measures, usingTraderServe's pioneering market impact measurement techniques. TraderServe continues to be in the forefront of Best Execution technology inthis country. In 2003 TraderServe released a major report on the technologicalobstacles to pan-European best execution in equities, and is now launching anumber of customisable products that enable market participants to comply withthe MiFID directive and produce reports to prove compliance. These productsgenerate significant savings in transaction costs and are expected to make asignificant impact on TraderServe. For information please contact: Francesco Gardin, Brainspark plc, telephone: 00 39 335 296573Roland Cornish, Beaumont Cornish Limited, telephone: 020 7628 3396 Note for Editors: About TraderServe TraderServe Limited is a software vendor and consultancy firm focused onreal-time trading applications for brokers, traders and fund managers.TraderServe products and services are built on our unique multi-assetAlgorithmic Trading Platform (TraderServe ATP), which is specifically designedto meet the real challenges of algorithmic trading in electronic financialmarkets, providing flexibility and transparency with minimal impact to aclient's existing systems. The principals are industry leaders in the design, development and execution ofhigh-frequency trading architectures and strategies. Contact: marketing@traderserve.com www.traderserve.com This information is provided by RNS The company news service from the London Stock Exchange