LSE and Boat to build MiFID II trade reporting service

LSE and Boat to build MiFID II trade reporting service

The London Stock Exchange has inked a deal with Boat Services to build a MiFID II-compliant multi-asset reporting platform.

With new trade reporting requirements looming for market participants, the LSE says the platform will provide a one-stop shop for firms looking to ease the regulatory burden.

The real-time service will bring together the LSE's and Cinnober-owned Boat's existing MiFID-compliant trade reporting platforms and complement the T+1 MiFID and Emir transaction reporting service available via UnaVista.

The London exchange group says it will apply for Approved Publication Arrangement status, to incorporate Systematic Internaliser and OTC reporting, which replaces the current Trade Data Monitor (TDM) label under the updated directive.

The LSE's head of equity and derivatives markets, Nicolas Bertrand, says: “Signing this agreement with Boat Services represents an important step in creating a single, multi-asset Trade Reporting service for European capital markets. Responding to demand from customers, this partnership will bring a comprehensive reporting solution to market quickly, ahead of new reporting requirements under MiFID II.”

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