TECHNOLOGY

Bats and Bloomberg partner for MiFID II reporting

Both firms will combine APA and reporting services to help firms comply with trade reporting obligations.

By Hayley McDowell hayley.mcdowell@strategic-i.com April 20, 2017 9:26 AM GMT

Bats Europe and Bloomberg have teamed up to combine their approved publication arrangement (APA) and reporting services ahead of MiFID II.

The partnership will provide clients with reporting capabilities across asset classes through Bloomberg’s regulatory hub (RHUB) via both Bats’ and Bloomberg’s APA mechanisms, which are subject to regulatory approval.

Both firms said the integration will help investors comply with reporting obligations and manage data reconciliation without having to connect to multiple systems.

Alejandro Perez, global head of post-trade solutions at Bloomberg, explained Bats’ well-established position in equity reporting will complement Bloomberg’s workflow solutions across non-equity asset classes.

Jerry Avenell, co-head of sales at Bats Europe, added the partnership will provide a “simple, effective way” for market participants to comply with trade reporting obligations.

“With the new reporting regulations coming into effect in less than nine months, we know that firms are looking for easy-to-implement solutions to meet these regulatory requirements,” he said.

MiFID II requires market participants to accurately report firm quotes and executed transactions across a range of asset classes within a short timeframe.