TECHNOLOGY

Charles River to use TRADEcho for MiFID II trade reporting

TRADEcho’s APA will be available to clients of the Charles River Investment Solution ahead of MiFID I.

By Hayley McDowell hayley.mcdowell@strategic-i.com August 23, 2017 2:50 PM GMT

Charles River Development will use TRADEcho as an approved publication arrangement (APA) for trade reporting under MiFID II.

The partnership means firms that use the Charles River Investment Solution will be able to automate and report trades through TRADEcho’s smart report router (SRR).

TRADEcho’s SRR aims to help firms decipher if a trade report is required and if it is the report is sent to its APA as required under MiFID II. 

Jamie Khurshid, CEO of TRADEcho’s parent company Boat Services, described the APA service as a “comprehensive reporting solution to ensure compliance in an increasingly complex regulatory landscape”.

Peter Lambertus, CEO at Charles River, added as the MiFID II deadline draws closers, firms are facing increase pressure to find timely, cost-effective ways to meet their obligations.

“As part of our overall MiFID II solution, the integration with TRADEcho helps simplify trade reporting for our mutual clients,” he said.

Charles River has integrated APAs and approved reporting mechanism (ARMs) into its Investment Management Solution in order to streamline trade reporting with data validation.

Other MiFID II services offered by Charles River includes commission management and workflows to document best execution, data capture and FIX interfaces with brokers and venues.