LSE’s TRADEcho sees sales boost as MiFID II looms

An increasing number of tier one buy- and sell-side institutions have signed up to the trade reporting service ahead of MiFID II.

The London Stock Exchange (LSE) and Boat Services joint venture for MiFID II transparency services has seen a boost in sales as the regulation’s deadline nears.

TRADEcho revealed an increasing number of tier one buy- and sell-side firms have signed up following the launch of its assisted reporting service, with 259 firms now contracted.

The service is the only all-asset class assisted reporting tool for firms looking to use just one approved publication arrangement (APA), TRADEcho claims.

TRADEcho plans to upgrade its network on 19 June this year with the migration of firms currently trade reporting on LSE.

Earlier this year, TRADEcho launched its open access smart report router which helps determine whether a buy- or sell-side counterparty should publish a trade and routes the trade to an APA.

The LSE and Boat Services said at the time that by combining their existing reporting services, the breadth and quality of service needed to help firms comply with pre-and post-trade transparency obligations will increase.