The Exchange is planning to steal a march on rival portals by rolling out its multi-tie deal ahead of depolarisation.
The trading platform says it is announcing its plans now so companies planning to multi-tie can have fully functioning technology as soon as regulation is finalised.
The portal is in advanced discussions with six IFA groups who are looking at how they will offer a multi-tie proposition and which providers they will work with.
The Exchange plans to offer two services – one geared towards distributors, allowing them to build a platform to attract their chosen providers and the other for providers, allowing them to white-label a platform to use under their chosen brand.
The services will be offered through the Exweb platform, which already has 20,000 users. The services will include company specific and comparative quotes and end-to end e-trading.
The Exchange chief executive David Child says the key selling point will be flexibility. He says it will be crucial for distributors to be flexible about the providers they are offering on their panels after the dust settles, so technology will have to allow companies to switch quickly and easily.
Child says removing the initial start-up costs will give companies speed to market and enable them to offer competitive business terms to attract distributors to their multi-tie quickly.
He says: “Companies that are looking to benefit from first mover advantage in the multi-tie market need to be evaluating their systems requirements now.”
Cydonia Consultancy director Allan Greenshields says: “Multi-tie has, to a certain point, been dictated already. IFAs looking for providers who will fit their technology platform have a very limited selection because very few providers have the technology capability needed to do this type of business.”