TRADEcho

The One-Stop Shop for MIFID II Transparency Services

Latest News

The SmartStream RDU and leading APAs launch a centralised Systematic Internaliser Registry

The SmartStream RDU and leading APAs launch a centralised Systematic Internaliser Registry

11/04/2018

The SmartStream Reference Data Utility (RDU) in collaboration with a group of Approved Publication Arrangements (APAs), including Bloomberg, Deutsche Boerse, NEX Regulatory Reporting, TRADEcho, Tradeweb and Trax today launch a detailed Systematic Internaliser (SI) Registry. The service enables SIs to register the financial instruments for which they are providing SI services in a centralised database through their APA.

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SI regime on Market Participants

SI regime on Market Participants

05/04/2018

One of the aims of MiFID II is to bring more transparency to the European financial markets in order to ensure market integrity and best execution, and enable investors to make more informed investment decisions. The regulation strives to achieve this through the implementation of new policies, with a large focus on ensuring previously opaque markets are made more transparent. A core component of this is the extension of the Systematic Internaliser (SI) regime to non-equity, but how has this impacted market participants?

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TRADEcho Nominated for Financial News Trading & Technology Awards 2018

TRADEcho Nominated for Financial News Trading & Technology Awards 2018

27/03/2018

We are pleased to announce that TRADEcho has been shortlisted for the Financial News Trading & Technology Awards 2018 in the Post-Trade Initiative of The Year category. This is testament to the hard work and commitment invested in TRADEcho, to bring transparency to the market and help firms meet their pre and post-trade reporting obligations in a cost effective and simplified way.

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OUR SERVICE

TRADEcho is the suite of MiFID II reporting services hosted and operated by the London Stock Exchange (LSE) and brought to market in partnership with Simplitium (formerly Boat Services). TRADEcho was formed in direct response to market demand for simplified and cost-effective reporting services that help firms meet their MiFID II transparency obligations.

TRADEcho’s pre-trade services (SI Determination and SI Quoting) help firms meet their MiFID II pre-trade transparency obligations by keeping them informed of their SI status in real time and enabling quote publication via the LSE market data channels.

TRADEcho's Approved Publication Arrangement (APA) provides firms with the mechanism to report trades they have executed to the market, thereby meeting their MiFID II post-trade transparency obligations. Trades are published across all asset classes in line with the regulatory reporting timeframes, applying relevant deferrals to provide the market with a clear and concise tape of a firm’s trades. TRADEcho is authorised as an APA by the UK’s Financial Conduct Authority (FCA).

As part of LSEG, TRADEcho’s services are complemented by the large suite of reference data provided by UnaVista.

TRADEcho’s Smart Report Router (SRR) solves a real problem in the market by helping firms determine if and when a firm should report a trade, and where there is a requirement, routing that trade to an APA for publication. In doing so, the SRR helps firms achieve operational efficiency while meeting regulatory demand.The SRR is APA agnostic which means that firms can route their trades to TRADEcho’s APA or another APA of their choosing. The ability to route trades to different APAs provides flexibility and efficiency while reducing the cost of connecting directly to multiple APAs. The SRR also enables assisted reporting. This allows buy-side firms to report on behalf of their clients and provides real-time visibility of the reporting lifecycle, while keeping connectivity and development costs down.

TRADEcho offers unparalleled experience in regulatory reporting. Through its comprehensive service offering, TRADEcho truly helps firms meet their trade reporting obligations in the most effective and efficient way.