BATS Seeks Consensus on MiFID 2 Trade Data Collection, Reporting Process
BATS is hoping to encourage other European trading venues to coalesce around its approach to handling client data.
The RTS 24 component of MiFID 2 requires firms to capture and provide client data and investment decision-making information to trading venues. As a result trading venues will now have to capture, record and store vast amounts of data throughout the trading day.
Participants don’t traditionally store this data in front-office systems, so must collect and organize it from across their ecosystem before passing it to trading venues, says David Howson, chief operating officer of BATS Europe.
“It’s
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