Tradecho, the multi-asset class Mifid II transparency service operated by the London Stock Exchange (LSE) and Boat Services, has launched its open-access Smart Report Router for trade reporting.
Mifid II will introduce new requirements for both buy- and sell-side participants for trade reporting. The SRR will determine if and when the buy- or sell-side counterparty should publish the trade, and where there is a requirement it routes that trade to an Approved Publication Arrangement (APA) for publication.
The SRR is currently open for testing for clients of LSE's customer development service environment. Further enhancements are planned for the tool throughout 2017 in response to client demands and regulatory guidance.
"This new SRR tool provides customers with choice and flexibility, demonstrating our commitment to an open-access approach for the benefit of the market as a whole," says Brian Schwieger, global head of equities product at the London Stock Exchange, in a statement. "We will continue to add functionality to our service in 2017 in response to customer demand, to provide a comprehensive reporting solution ahead of the new reporting requirements under Mifid II."
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