London Stock Exchange Group (LSEG) and Boat Services Ltd today announce the launch of TRADEcho, the combination of existing and complementary trade reporting services. The LSEG says that by early Q1 2017, TRADEcho will offer customers a more efficient, single trade reporting venue and complement LSEG’s T+1 MiFID and EMIR transaction reporting services, offered through UnaVista.
In addition, TRADEcho will provide a single, multi-asset, pan-European reporting solution to help customers meet all of their new MiFID II trade reporting obligations, well ahead of MiFID II’s 2018 implementation.
TRADEcho’s key services include:
Trade Reporting: TRADEcho supports the new requirements of investment firms and trading venues for real time OTC trade reporting.
SI Quoting: TRADEcho will publish quotes via London Stock Exchange market data feeds, market data vendors and the service’s portal as well as offer white labelled portals to SIs, who will be able to manage client access to the portal.
On exchange, off book: TRADEcho provides London Stock Exchange member firms post-trade reporting services for on-exchange trades, to help customers manage investment mandates, counterparty risk through default rules and buy-in rules.
Cleared model: TRADEcho will provide a sophisticated trade validation and risk management tool to allow trade reports to be flagged for onward routing to a CCP. This will facilitate settlement and margin savings through netting with order book trades.
New multi-service web portal: TRADEcho will operate via a new web-based portal supporting the above services as well as providing reference data.