TRADING VENUES

SIX Swiss Exchange opts for TRADEcho’s trade reporting

SIX Swiss Exchange remote members will use TRADEcho for data monitoring and reporting.

By Hayley McDowell hayley.mcdowell@strategic-i.com March 07, 2017 11:02 AM GMT

SIX Swiss Exchange has chosen the London Stock Exchange’s (LSE) TRADEcho service as a trade data monitor to meet reporting regulatory requirements.

The agreement allows remote members of the exchange to comply with reporting for trades in Swiss securities admitted for trading via the TRADEcho platform.

Historically, remote members of SIX Swiss Exchange reported their OTC trades to the reporting office of the exchange.

TRADEcho was brought to the market by the LSE in partnership with Boat Services and provides real-time publication and post-trade reporting alongside the UnaVista service.

Jamie Khurshid, CEO of Boat Services, explained the partnership with SIX “demonstrates our intention to expand TRADEcho services beyond EU jurisdictions to provide our clients with straightforward solutions in an increasingly complex regulatory landscape.”

The TRADEcho venture recently launched a smart report router to help determine if and when a buy or sell-side counterparty should publish a trade and where there is a requirement it routes the trade to an approved publication arrangement (APA).

The router is APA agnostic, so allows users to smart route trade reports to various APAs while reducing the costs of connecting directly to multiple.