Bats Europe’s BXTR Expands MiFID II Solution for Buy-Side Trade Reporting

Bats Europe, a CBOE Holdings company and Europe’s largest equities Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, has expanded its trade reporting facility, BXTR, extending a new offering for groups to meet their MiFID II regulatory obligations ahead of its introduction in January 2018.

BXTR’s new service will help cater to Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term firms in anticipation of their shifting obligations. Many firms have begun transitioning towards MiFID II, causing a growing demand for such offerings and solutions.

New Regulatory Playing Field

Under the upcoming MiFID II requirements, investment firms will be forced to report their trades when they transact on an over-the-counter (OTC) basis. An investment firm category can include buy-side firms, who under MiFID II cannot delegate formal regulatory responsibility to their sell-side counterparties, as they have been able to under MiFID I.

MiFID II reporting obligations will necessitate a wide range of challenges that must be adapted to, including operational, technical, financial, and regulatory adjustments. Bats’ buy-side trade reporting service is also aiming to be a simplified transition, requiring no technical or operational changes to buy-side systems for APA connectivity.

According to Mark Hemsley, President of Europe for CBOE, which owns Bats Europe, in a statement on the service: “With MiFID II coming into effect in just nine months, we want to make sure buy-side firms have access to simple, easy-to-implement solutions to meet their trade reporting obligations.”

“As the largest equities trade reporting venue in Europe, expanding BXTR to offer this service was a natural extension of our offering and provides a low-cost, light-weight trading reporting solution for the buy-side.”