Demonstrate Best Execution compliance while uncovering crucial commercial insights
eflow's Best Execution technology enables firms to clearly and concisely demonstrate that they’re acting in the best interests of their clients, while also uncovering commercial insights to improve trading performance.
Best execution software helps firms prove they took all sufficient steps to get the best possible result for clients, based on price, cost, speed and likelihood of execution. Transaction cost analysis (TCA) measures the true cost of each trade against market benchmarks. eflow's Best Execution and TCA solution automates both across asset classes, including FX, and produces regulator-ready reports for MiFID II and FINRA Rule 5310.
Not only that, but the system will also uncover commercial insights by analysing performance data and highlighting how your trading strategy can be executed more effectively.
Streamline your reporting processes for Best Execution legislation including MiFID II, SEC 606 and FINRA Rule 5310, supported by automated exception reporting.
Ingest and test all major instrument types and asset classes against a range of industry benchmarks including VWAP, Time, Venue, Implementation Shortfall/Slippage, and Best Bid/Ask.
Explore detailed analytics to provide actionable insights and understand how changes to your trading strategy could enhance performance.
Improve operational efficiency by managing all your Best Execution obligations through one centralised monitoring system.
Generate data-rich insights that demonstrate the value of your trading strategy to investors quickly and clearly.
Enjoy the peace of mind that comes with direct access to eflow's team of onboarding specialists, customer success managers and technical experts.
Book an interactive demo to see how we can help you to manage your regulatory challenges in a more robust, streamlined and efficient way.
Switching Best Execution systems is often one of compliance’s most resource-intensive projects, with data analysis, configuration, testing and sign-off competing with day-to-day duties. Many firms 'make do' with their existing technology, deterred by hefty implementation fees and past onboarding experiences marked by limited support, unclear ownership and outsourced service. eflow removes this barrier, combining technology, automation and expertise to deliver value fast.
Automate and streamline all aspects of your best execution testing and transaction cost analysis strategy through a single platform that delivers a comprehensive view of execution data.
Ingest, test and generate alerts for all major asset classes.
Generate data-led intelligence that highlights how your trading strategy could be executed more effectively.
Run best execution tests against a range of benchmarks including VWAP, Time, Venue, Implementation Shortfall/Slippage, and Best Bid/Ask.
Archive and index trade data in compliance with Best Execution legislation such as MiFID II, FINRA Rule 5310 and MAS Best Execution rules.
Enjoy the peace of mind that comes with direct access to eflow's team of onboarding specialists, customer success managers and technical experts.
A firm’s ability to demonstrate that it’s acting in the best interests of clients is a core responsibility of any compliance team. eflow’s Best Execution and TCA technology ingests, tests and reports on all major instrument types and asset classes, while using advanced capabilities to leverage AI and automatically run industry benchmarking tests including VWAP, Time, Venue, Implementation Shortfall/Slippage, and Best Bid/Ask.
The platform features highly configurable parameters that can be customised and tested to mirror your trading strategy, automatically account for variables, and reduce false positives. Your chosen reports can also be set based on a number of reference and market data metrics such as volatility and instrument liquidity. Should a trade deviate from expected parameters, it will be flagged for further analysis, enabling the production of detailed TCA reports that highlight areas requiring attention.
eflow Best Execution and TCA automates best execution monitoring, testing and reporting on the PATH AI platform. It enriches trade data with market data from more than 250 sources, tests every trade against industry benchmarks, flags exceptions for review, and produces detailed TCA reports. It also surfaces commercial insights that can improve trading performance.
eflow supports best execution obligations under MiFID II (UK and EU), SEC Rule 606 order routing disclosures, FINRA Rule 5310 and MAS best execution rules in Singapore. Trade data is automatically archived and indexed in line with these rules, and automated exception reporting supports regulator-ready evidence.
eflow tests trades against VWAP, time-based benchmarks, venue comparison, implementation shortfall or slippage, and best bid and ask. Parameters can be tuned to reflect volatility and instrument liquidity, so a trade is flagged only when it genuinely deviates from expected outcomes.
eflow Best Execution is asset class agnostic, ingesting and testing all major instrument types, including equities, fixed income, FX, derivatives and CFDs. Firms can configure different tests and thresholds per asset class to mirror how each desk trades.
eflow uses highly configurable parameters that can be customised and tested to mirror a firm's trading strategy. Thresholds can adjust automatically for market conditions such as volatility and liquidity, so exceptions focus on trades that genuinely deviate from expected parameters rather than normal market movement.
Yes. eflow helps US broker-dealers meet SEC Rule 606 order routing disclosure requirements, generating reports directly from the platform.
Yes. eflow's analytics show how changes to execution strategy, brokers or venues could improve performance. Firms can use these insights to demonstrate the value of their trading to clients and investors, turning a compliance obligation into evidence of execution quality.
eflow assigns each client a dedicated onboarding specialist and uses automated processes so the system is configured to the firm's exact specifications. Typical migrations take up to 12 weeks depending on the client.
eflow serves financial institutions including brokers, CFD and trading platforms, asset and wealth managers, hedge funds, proprietary trading firms and investment banks. More than 140 financial institutions use eflow's regulatory technology, including Plus500, RBC Brewin Dolphin, Finalto, Mirae Asset Securities and Tradeview Markets.
eflow gives firms independent best execution monitoring rather than relying on the brokers being measured. It enriches every trade with data from more than 250 market data sources, tests it against the firm's own benchmarks and thresholds, and flags exceptions for review. The same analysis shows how changes to strategy, brokers or venues could improve performance, turning a compliance task into evidence of execution quality for clients.
eflow helps firms meet the best execution duties that remain after the RTS 27 and RTS 28 reports were removed (in the UK in 2021, and in the EU through the 2024 MiFID II review). Firms must still monitor execution quality, review their execution arrangements at least once a year, and be able to show regulators and clients how they achieved best execution. eflow's exception reports and TCA provide that evidence.
eflow is certified to ISO/IEC 27001:2022, the international standard for information security management systems (ISMS) and has also completed a SOC 2 [Type II] examination, conducted by an independent auditor. eflow client data is hosted on AWS Dublin (Ireland) and AWS US East (N. Virginia). Other AWS regions are available on request.
