15 April 2020
Plato Partnership and Urvin.Compliance launch PLIA by PLATO
PLIA by Plato will provide market participants with a centralised repository for all best execution-related due diligence questionnaires and data requests;
A fully transparent and auditable record of communication between counterparties; and
A customisable response grading and reporting process.
Plato Partnership, the not-for-profit company working to improve the European equities marketplace, and Urvin.Compliance, a compliance and analytics provider, today announced the launch of PLIA by PLATO.
PLIA by PLATO is the most advanced platform available, set to become industry standard for compliance and best execution-related due diligence, in Europe. With features guided by Plato Partnership members from both the Buy Side and Sell Side, the platform allows traders and compliance professionals to systematically communicate and document trading practices.
The scope of PLIA by PLATO is extensive, from helping firms improve their best execution process to providing the ability to measure and compare their counterparties across an array of metrics. Its launch marks another milestone in Plato’s mission to bring much-needed innovation to the European marketplace and all its participants.
Mike Bellaro, CEO of Plato Partnership, said: “Since its inception, Plato has been committed to improving the structure of the European marketplace and to providing a forum for better communication between the buy and sell-side. PLIA by PLATO brings us another step closer to realising these ambitions, bringing greater efficiency into the best execution process across a range of assets.”
“This partnership marks an unprecedented step forward in enabling better communication between the Buy and Sell-side. PLIA by PLATO’s features have been guided through collaboration with our market-wide membership, and the platform will continue to adapt with the changing demands of the marketplace.”
Adam Conn, head of trading at Baillie Gifford said: “Having this central and secure platform will solve some of the challenges faced by trading and compliance teams, helping them to manage risk and due diligence when executing trades.”
Bill Stephenson, CEO of Urvin.Compliance said: “The mission of Urvin.Compliance is to promote transparency and accountability within the best execution process, and the PLIA by PLATO platform will set a new standard for the exchange of important information between counterparties. We are excited to become a preferred provider of the Plato Partnership and look forward to collaboratively creating efficiencies, innovative solutions, and game-changing functionality for its membership and all other users of the platform.”
Access to PLIA by PLATO is available to all institutional investors and their broker-dealer partners. Typical users include traders and compliance personnel who are engaged in the best execution review process.
Notes for Editors
About PLIA by PLATO
PLIA by PLATO is a highly secure platform that allows counterparties to share important information about trading practices. This centralised process will streamline the communication of new procedures and best practices to ensure counterparties remain in sync with internal objectives and regulatory obligations.
PLIA by PLATO can support global markets and multiple asset classes. Asset managers can leverage existing standardised questionnaires or create their own from a large selection of questions in the PLIA database. With over 400 counterparties having utilised the PLIA platform in the past six years, PLIA by PLATO has a significant network spanning almost all markets.
For more information about PLIA by PLATO please visit: https://www.plia.co.uk/plia-by-plato
About Plato Partnership Limited
Plato Partnership Limited (“Plato Partnership”), a not-for-profit company representing the buy- and sell-side, has come together with a vision of bringing creative solutions and efficiencies to today’s equity marketplace. The group’s key aims are to reduce trading costs, simplify market structure, and to act as a champion for end investors.
Central to this vision is Plato Partnership’s Market Innovator (MI3); a research fund which will sponsor academic research and analysis that will identify ever better ways of executing trades, as well as lowering the cost and improving the quality of the broad range of processes required to support the execution lifecycle.
Plato Partnership is working with industry partners to achieve greater transparency and efficiency across the marketplace, and put its research findings into practice.
Members of Plato Partnership include:
Axa Investment Managers, Baillie Gifford, BlackRock, Capital Group, DWS Group, Fidelity International, Norges Bank Investment Management, Union Investment, Barclays, Bank of America Merrill Lynch, Citi, Goldman Sachs, JP Morgan, Morgan Stanley, UBS, Jefferies, Societe Generale, Liontrust, RBC, Instinet, Redburn, Legal & General Investment Management, Janus Henderson, Invesco, Exane BNP Paribas, Schroders, Credit Suisse, Allianz Global Investors, Schroder Investment Management and T. Rowe Price.
For more information, please visit www.platopartnership.com or @PlatoMarkets.
Urvin.Compliance is a new financial technology firm that was formed with the explicit goal of transforming the counterparty management process for the institutional trading community. With the ever-expanding information gap between asset managers and their counterparties, Urvin.Compliance has developed solutions that will centrally organise relevant information such that risks can be mitigated and fiduciary responsibilities can be managed.