TRADING VENUES

TRADEcho’s smart report router links up to Cboe’s APA

Connection means firms can report trades to Cboe Europe Equities' approved publication arrangement under MiFID II.

By Hayley McDowell hayley.mcdowell@stratetgic-i.com November 16, 2017 11:15 AM GMT

TRADEcho’s smart report router (SRR) is now connected to Cboe Europe Equities’ approved publication arrangement (APA) ahead of MiFID II.

The link means clients of TRADEcho using its SRR tool can report trades to the Cboe Europe Equities’ - formerly Bats Europe - APA.

The TRADEcho venture was established through a partnership between the London Stock Exchange Group and Simplitium, which was formerly known as Boat Services.

The SRR tool, launched in January, aims to help firms determine if and when they have an obligation to report a trade and then routes that trade to an APA of choice for publication.

CEO at Simplitium, Jamie Khurshid, commented the firm is a big advocate of open access platforms and the SRR tool offers its clients the flexibility they demand.

Jerry Avenell, co-head of sales at Cboe Europe Equities, added the exchange’s goal is to provide easy-to-implement solutions for buy-side and sell-side firms ahead of MiFID II and the collaboration with TRADEcho enables it to achieve this.

Cboe’s trade reporting facility BXTR - which will become an APA for MiFID II - currently handles 60% of all OTF trade reporting across the region and covers nearly 13,000 European equities and exchange-traded products.