LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
ULLINK, the global provider of electronic trading and connectivity solutions to the financial community, today announced it has successfully certified its MiFID II Trade Reporting solution with TRADEcho, the Approved Publication Arrangement (APA) of the London Stock Exchange (LSE) that provides comprehensive pre- and post-trade transparency services.
ULLINK’s Trade Reporting solution offers a centralised approach to automating cross-asset class trade reporting by publishing relevant information to third parties like TRADEcho, operating under an APA.
TRADEcho combines the expertise of the LSE and Boat Services to provide compliant, simplified and cost-effective reporting services including systematic internaliser (SI) Determination, SI Quoting, Smart Report Routing and cross-asset class Trade Publication covering all MiFID II instruments. Certification of ULLINK’s solution with TRADEcho ensures market participants can access TRADEcho’s MiFID II reporting services to ensure our customers correctly meet their regulatory transparency obligations.
Daniel Shepherd of TRADEcho commented:
ULLINK is a recognised leader for connectivity and trading services in the Capital Markets industry and we are delighted to certify the ULLINK Trade Reporting solution for TRADEcho. We have and continue to see enormous interest in our pre-trade and post-trade compliance services from both buy-side and sell-side participants, and we look forward to working closely with ULLINK customers to help them fulfill their MiFID II reporting obligations, and potentially as important, to facilitate assisting their customers to also.
Richard Bentley, ULLINK’s Chief Product Officer, added:
As the MiFID II deadline approaches, the shrinking time windows to report plus the broader set of instruments being covered is causing many challenges for both sell-side and buy-side participants. Firms must ensure they are able to publish relevant trades in near real-time to fulfill post-trade transparency requirements. Our partnership with TRADEcho compliance services will help alleviate this challenge.
ULLINK’s Trade Reporting and APA connectivity solutions are delivered as extensions of ULLINK’s UL BRIDGE middleware, the core FIX infrastructure at the heart of ULLINK electronic trading solutions. The solution can be deployed on-premise or as a managed service, as part of a broader High-Touch or Low-Touch trading platform or a standalone service to enable an existing trading system.