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TRADEcho

The One-Stop Shop for MIFID II Transparency Services

Latest News

Nasdaq joins the Systematic Internaliser Registry Data Group

Nasdaq joins the Systematic Internaliser Registry Data Group

13/06/2018

The SmartStream Reference Data Utility (RDU), today announced the joining of Nasdaq to the Systematic Internaliser (SI) Registry, which provides a hub for SIs to register financial instruments in a centralised database through their APA.

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ESMA UPDATES ITS MIFID II / MIFIR Q&AS ON TRANSPARENCY AND MARKET STRUCTURES TOPICS

ESMA UPDATES ITS MIFID II / MIFIR Q&AS ON TRANSPARENCY AND MARKET STRUCTURES TOPICS

29/05/2018

The European Securities and Markets Authority (ESMA) provide clarification on the requirement to publish post-trade data 15 minutes after publication, free of charge.

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TRADEcho Systematic Internaliser Services expand to include Client Tiering

TRADEcho Systematic Internaliser Services expand to include Client Tiering

10/05/2018

At TRADEcho we aim to provide our clients with best-in-class MiFID II transparency services, and our pre-trade solutions are no different. With the Systematic Internaliser (SI) obligations under MiFID II coming into full force on 1st September 2018, our SI services can help firms ensure compliance. To achieve this, we offer two core SI services, SI Determination and SI Quoting. Client Tiering, a recent enhancement to our SI Quoting service, allow SIs to route their quotes to specific clients, giving ultimate control back to the SI.

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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.