BATS Europe Expands Trade Reporting Facility for Buy Side Firms

BATS Europe, a CBOE Holdings, Inc. company and the region’s largest equities exchange operator, announced it has expanded its trade reporting facility, BXTR, to offer a new service that enables buy-side firms to meet their trade reporting obligations under MiFID II. The new service, an assisted reporting model, allows buy-side firms to enable their brokers to submit trade reports on their behalf using the broker’s existing connectivity to BATS Europe. Recognizing the new MiFID II reporting obligations will present buy-side firms with a range of operational, technical, financial and regulatory challenges. BATS’ new buy-side trade reporting service requires no technical or operational changes to buy-side systems for APA connectivity since it uses their broker’s existing connectivity to BATS Europe. The new service, which is offered under an inexpensive license, allows buy-side firms to meet their MiFID II reporting obligations in a straightforward, cost-effective manner. BXTR handles approximately 60% of all OTC trade reporting across the region and covers nearly 13,000 European equities and exchange-traded products. BXTR, subject to regulatory approval, will become an APA for MiFID II.