Charles River Development has partnered TRADEcho to deliver an automated trade reporting solution for Markets in Financial Instruments Directive II (MiFID II). The partnership allows firms using the Charles River investment management solution (IMS) to use TRADEcho as an Approved Publication Arrangement (APA) to report trades to the public and to access TRADEcho’s Smart Report Router (SRR) to determine trade reporting eligibility.
TRADEcho is a real-time pre- and post-trade publication service for MiFID II that was brought to market by the London Stock Exchange Group in partnership with Boat Services. Its SRR element helps firms determine if a trade report is required, and where there is a requirement to report, the SRR sends the trade to TRADEcho’s APA. The APA publishes trades in line with regulatory timeframes, enabling firms to comply with their MiFID II trade transparency obligations.
Charles River CEO, Peter Lambertus, comments: “As part of our overall MiFID II solution, the integration with TRADEcho helps simplify trade reporting for our mutual clients.” Also included in Charles River’s MiFID II solution set are commission management and workflows to document best execution, all necessary data capture, business logic for derived fields, and enhanced FIX interfaces with brokers and venues.