London Stock Exchange welcomes TRADEcho

TRADEcho is the Pan-European MiFID II transparency service for financial firms, offered jointly by London Stock Exchange and Boat Services.

London Stock Exchange and Boat currently manage a substantial share of firms’ MiFID trade reporting. By combining their existing trade reporting services and utilising the respective strengths of each firm, the partnership can offer an unparalleled breadth and quality of service.

TRADEcho will help firms efficiently comply with their pre- and post-trade transparency obligations in the increasingly complex regulatory landscape under MiFID II. It will be operated as an Approved Publication Arrangement (APA) and reach across all MiFID II asset classes. Users will be able to determine their Systematic Internaliser (SI) status per instrument and report quotes and trades within the time frames stipulated under MiFID II. Services include clearing and on-exchange reporting and are complemented by UnaVista’s transaction reporting service.

Jamie Khurshid, CEO of Boat Services Ltd:

"TRADEcho and our partnership with the LSE brings award winning technology together with market structure know-how to create Europe’s leading multi asset pre- and post-trade transparency solution. We have an enviable track record of successfully helping market participants meet their regulatory requirements and obligations. Transparency is our core business and with the LSE we have combined the two longest running, most experienced and reliable Trade Data Monitors into a market leading APA service”.

Veronica Augustsson, CEO of Cinnober Financial Technology:

“We have a passion for using technology to take the financial ecosystem into the future. Digitalization is in our DNA. We are delighted to have partnered with the LSE to build efficient services that add value to our customers and ensure regulatory compliance.”

Brian Schwieger, Co-Head of Equities, ETFs & Fixed Income – Secondary Markets:

“Ahead of new reporting requirements under MiFID II, TRADEcho has been launched to be the platform of choice for trade reporting in Europe. Its development responds to demand from customers and delivers, in partnership with BOAT, a comprehensive reporting solution built on our two organisations combined technical and market expertise.”

Nicolas Bertrand, Global head of Derivatives, LSEG:

"TRADEcho aims to be the platform of choice for trade reporting in Europe and will start with a multi asset class offering covering equities and fixed income. Responding to demand from customers, this partnership delivers with exceptional combined technical and compliance expertise, a comprehensive reporting solution to market quickly, ahead of new reporting requirements under MiFID II. We are looking forward to deploy this new service and work together with clients to provide added value in this space.”

List of advisors/participants:

  • LSEG
  • Boat Services Ltd
  • Cinnober Financial Technology
  • UnaVista 
  • MTS