European multilateral trading facility (MTF) Bats Chi-X Europe has announced the introduction of BXTR, a suite of trade reporting services for the pan-European trading community.
BXTR offers trade reporting with the option to centrally clear and multilaterally settle off-order book trades, as well as a trade data monitoring service to comply with the Markets in Financial Instruments Directive (Mifid II) requirements to publish over-the-counter (OTC) post-trade data.
"As the industry looks ahead to the implementation of new reporting requirements with Mifid II, we see pan-European reporting services as a natural extension of our business," says Mark Hemsley, CEO of Bats Chi-X Europe. "With BXTR, we now offer one-stop, full-service trade reporting solutions, which will enable our customers to lower their costs and improve efficiencies in several areas, including settlement netting of trades that are off-book."
Bats Chi-X Europe received the UK Financial Conduct Authority's approval to operate a trade data monitoring service in August 2013.
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