TRADEcho APA approved for MiFID II OTC trade reporting

  • Authorisation granted for Approved Publication Arrangement (APA) by the UK’s Financial Conduct Authority (FCA)
  • APAs authorised to publish OTC trade reports on behalf of investment firms
  • OTC trade reporting to be provided via TRADEcho platform
  • Enables MTS clients signed up to TRADEcho to fulfill pre- and post-trade MiFID II requirements for OTC activity 

MTS, as part of the London Stock Exchange Group (LSEG), has partnered with London Stock Exchange plc (LSE) to provide OTC trade reporting services through the TRADEcho platform.

LSE has received regulatory approval from the UK’s Financial Conduct Authority (FCA) to operate the TRADEcho platform as an Approved Publication Arrangement (APA). The approval means that MTS clients which sign up to TRADEcho will be able to publish OTC trade reports to meet their reporting obligations under MiFID II.

TRADEcho is the name of the partnership between Boat Services and London Stock Exchange to deliver a MiFID II compliant multi-asset trade reporting service, facilitating efficient and straightforward trade reporting in an increasingly complex regulatory landscape. The pan-European, multi-asset class MiFID II compliant trade and quote publication service will offer customers a single, multi-asset class, real-time reporting solution for over the counter (OTC) and Systemic Internaliser (SI) trades.

In addition to APA services, TRADEcho offers pre-trade SI Determination, SI Quoting and a Smart Report Router which provides firms with the tools to determine if a trade is eligible for publication and whether it is their responsibility to make the trade public.

As part of LSEG, mutual TRADEcho and BondVision customers will be able to utilise BondVision technology to facilitate seamless access to the TRADEcho portal to fulfill their trade reporting obligations. MTS clients will also have the opportunity to access a suite of other complementary MiFID II reporting services including an ARM service for transaction reporting provided through UnaVista*.

Fabrizio Testa, CEO of MTS said: “We are delighted that MTS clients will be able to utilize TRADEcho for their OTC trade reporting needs. As part of the LSEG, MTS is in a perfect position to assist clients which are also signed up to the TRADEcho and UnaVista services. It allows us to offer our customers a single solution for all their real-time publication and reporting requirements under MiFID II and MiFIR for both on-venue and OTC transactions.”

*The FCA approval process for ARMs is not yet complete