London Stock Exchange plc has today received regulatory approval from the UK’s Financial Conduct Authority (FCA) to be authorised as an APA (approved publication arrangement).
The approval means that London Stock Exchange will be able to publish post-trade transparency reports on behalf of investment firms to help them meet their reporting obligations under MiFID II.
The reporting will be provided through TRADEcho, a pan-European, multi-asset class MiFID II compliant trade and quote publication service for financial firms. As an APA, TRADEcho will offer customers a single, multi-asset class, pan-European, real-time reporting solution for OTC and Systemic Internaliser (SI) trades.
In addition to APA Services, TRADEcho also offers pre-trade SI Determination, SI Quoting and a Smart Report Router which provides firms with the tools to determine if a trade is eligible for publication and whether it is their responsibility to make the trade public. The London Stock Exchange APA service, which has been brought to the market through a partnership with Boat Services, is part of LSEG’s MiFID II reporting services, which also includes an ARM service for transaction reporting provided through UnaVista*.
Brian Schwieger, Global Head of Equities Products, London Stock Exchange Group said: “We are delighted to have received regulatory approval to be authorised as an APA. Through LSEG’s TRADEcho and UnaVista services, we can offer our customers a single connectivity solution for all their real time publication and reporting requirements under MiFID II and MiFIR for both on-exchange and OTC transactions.”