May 22, 2017

TRADEcho strengthens position as a market leader as 259 firms now contracted with TRADEcho for MiFID II trade reporting

TRADEcho, the partnership between London Stock Exchange and Boat Services providing a one stop shop for MiFID II transparency services, saw a very positive increase in sales in Q1 and Q2. This recent sales momentum reaffirms TRADEcho’s position as a market leader for pre and post-trade transparency services for MiFID II.

TRADEcho’s client list includes a broad range of clients in every MiFID asset-class, from the largest Tier 1 buy-side and sell-side clients to smaller regional brokers and other MiFID investment firms.

With less than 230 days until MiFID II firms are beginning to recognise the importance of finalising their MiFID II transparency arrangements; and an increasing number are choosing TRADEcho as their preferred MiFID II multi-asset class trade and quote publication service.

A significant factor that has driven TRADEcho’s recent sales momentum is the launch of an Assisted Reporting Service.

MiFID II introduces the seller’s obligation, such that buy-side firms can no longer outsource the liability of correctly publishing trades to their sell-side counterparty. It is, however, possible for brokers to assist clients in publishing trades, and TRADEcho’s Assisted Reporting Service facilitates this, helping firms meet their regulatory obligations*.

Assisted reporting is anticipated to be a service that the sell side will provide to many customers. TRADEcho remains the only all-asset class assisted reporting solution for firms wanting to use only one APA. Many firms are also leveraging TRADEcho’s unique APA agnostic Smart Report Router(SRR) - a utility for the marketplace - to faciliate this and satisfy customer demand.

In addition to the increasing number of firms signed up to the service, TRADEcho will strengthen its network with the migration of firms currently trade reporting on London Stock Exchange, taking place on 19 June 2017.

Jamie Khurshid, CEO of Boat Services said:

“Simplifying complex business problems is at the heart of what we do and we are proud to deliver services that the market sees value in and has asked for. TRADEcho is in a great position for MiFID II and we expect continued sales growth throughout 2017.”

Scott Bradley, Head of Sales for LSE Cash Secondary Markets & Turquoise said:

“TRADEcho brings together an unparalleled wealth of knowledge and expertise in both on-exchange and OTC trade reporting which provides true peace of mind to clients looking for a solution to meet their MiFID II post trade requirements. Existing LSE members and new customers to the service can also gain access to a host of value add tools and services designed to navigate this potentially challenging landscape.”


For further information, please contact:

Per Loven,
Commercial Director,
Tel: +44 (0) 2038721944


*TRADEcho are running a webinar on their Assisted Reporting offering on May 31. Email to register.


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