Trax and Bats Unite for MiFIDII Equities Trade Reporting

Trax and Bats Unite for MiFIDII Equities Trade Reporting
16.06.2017 07:00 am

Trax and Bats Unite for MiFIDII Equities Trade Reporting

Compliance

Trax®, a subsidiary of MarketAxess Holdings, Inc. and a leading provider of regulatory reporting, trade matching and capital market data services, and Bats Europe, a CBOE Holdings, Inc. company and the region’s largest equities exchange operator, today announce plans to offer Trax Approved Publication Arrangement (APA) customers the choice to direct equity trade reports to the Bats APA in order to help market participants comply with MiFID II post-trade transparency obligations. 

By linking directly to Trax, firms can reduce technical burdens through a single reporting connection and improve flexibility in reporting designation by routing reports to either the cross-asset class Trax Approved Publication Arrangement (APA) or the Bats APA for equities. Through access to the Bats APA, Trax offers additional flexibility for assisted reporting whereby broker-dealers can aid their buy-side customers to concentrate their equity trade prints.

Geoffroy Vander Linden, Head of Transparency Solutions, Trax, comments, “Trax has worked extensively with the regulators and our buy- and sell-side client community to build a comprehensive and intelligent transparency solution. It’s through this cross-industry collaboration that Trax and Bats Europe will develop a connection for equities trade reporting. I’m excited to be able to offer our buy- and sell-side clients even greater technical flexibility and a streamlined operational solution.” 

Jerry Avenell, Co-Head of Sales at Bats Europe said, “Market participants are looking for simple solutions to meet the new trade reporting requirements coming under MiFID II. By collaborating with Trax to provide their customers with streamlined access to the Bats APA for their equity reporting needs, we’re making it easier for firms to meet their regulatory requirements.”

The Trax Transparency Solution, which includes the APA, is available through the Trax Insight™ platform, offering a comprehensive cross-asset class pre- and post-trade transparency solution including quote publication, Systematic Internaliser (SI) determination, reference data reporting to multiple National Competent Authorities and Best Execution reporting. Trax Insight will have the ability to facilitate a firm’s complete cross-asset class transaction flow as both an APA and a MiFID I and MiFID II Approved Reporting Mechanism (ARM) for transaction reporting, ensuring trades are enriched with relevant data, validated for reporting eligibility and reported in near real-time. Trax also offers firms the ability to complete necessary validation checks and test their MiFID II reporting readiness ahead of the January 2018 implementation deadline via the Insight platform. Trax supports flexible integration through multiple communication channels and message formats with links to various OMS systems.

Related News

EQ launches new automated complaints product for the financial services industry

EQ (Equiniti), the international technology-led services and payments specialist, is delighted to announce that it is launching a new automated complaints... Read more »

iProov to provide biometric technology to challenger bank Knab, part of AEGON

Today, iProov is proud to announce that its technology is to be deployed by Dutch challenger bank Knab, to provide an effortless online biometric experience to its nearly 500,... Read more »

Wolters Kluwer Finance, Risk & Reporting triumphs in Risk magazine awards for third consecutive year

Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has won ... Read more »

SteelEye and UnaVista Partner to Support Market Following CME Announcement

SteelEye, the compliance technology and data analytics firm, and UnaVista, the regulatory reporting platform from London Stock Exchange Group... Read more »

FSS Enhances Secure3D to Prepare Issuers for PSD2 SCA Compliance

FSS (Financial Software and Systems), a global digital payment and financial technology company, announced today that its FSS Secure3D is compliant with... Read more »

ClauseMatch Expands Compliance Workflow and Collaboration Platform with a Launch in the US

ClauseMatch has announced today the launch of its US office in New York. The opening comes in response to demand from US companies and international clients operating in the US... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel