Trax launches transparency tools ahead of MiFID II

APA demonstrator, systematic internaliser determination and liquid classification tools said to help firms with Mifid II transparency rules.

Trax has announced the launch of the approved publication arrangement (APA) demonstrator, which will allow users to test their readiness for MiFID II transparency rules.

The post-trade services provider claims the tool will “provide an early opportunity for firms to view the effect of MiFID II trade reporting regime and test technical readiness”, ahead of the 3 January 2018 deadline.

As well as the APA demonstrator, Trax has developed a systematic internaliser (SI) determination tool, which assesses whether a firm “would be an SI at instrument level.”

Liquid classification and firm specific analysis tools were added to Trax’s solutions for MiFID II.

The suite of tools were “built in close collaboration with the industry” and leading investment firms have agreed to support the developments of the transparency tools, Trax said.

Head of business development, regulatory reporting and post-trade services at Trax, Geoffroy Vander Linden, said the Mifid II rules on reporting, “will impact all areas of the trading lifecycle,” but the tools launched by Trax are “helping firms engage with their regulatory obligations.”

The MiFID II tools will be available via Trax Insight.