London Stock Exchange Group (LSEG) has revealed it is working on a trade reporting solution for MiFID II, ahead of publication of the final rules.
LSEG has teamed up with Boat Services to create a fully MiFID II compliant solution. It intends to offer a single, multi-asset, pan-European reporting platform that operates in real-time.
The two firms already offer trade reporting services and existing technology and expertise will be combined with the new reporting service.
As part of the deal, LSEG is applying for Approved Publication Arrangement status, which will enable it to report systematic internaliser and OTC reporting.
Nicolas Bertrand, head of equity and derivatives markets at LSEG, said: “Signing this agreement with Boat Services represents an important step in creating a single, multi-asset Trade Reporting service for European capital markets.
“Responding to demand from customers, this partnership will bring a comprehensive reporting solution to market quickly, ahead of new reporting requirements under MiFID II.”
The final rules for MiFID II, known as regulatory technical standards, are due to be published in late September, giving market participants only 15 months to prepare for implementation in January 2017.