SIX Swiss Exchange announced today approval of the London Stock Exchange’s TRADEcho service as a Trade Data Monitor (TDM) for the SIX Swiss Exchange.
This agreement enables foreign participants (Remote Members) of the SIX Swiss Exchange to meet their reporting obligations for trades in Swiss securities admitted for trading on a Swiss regulated market via the TRADEcho platform.
TRADEcho is a Pan-European, multi-asset class MiFID I and MiFID II trade and quote publication service for financial firms.
The London Stock Exchange (LSE) service has been brought to the market through a partnership with Boat Services. Together with the Group’s UnaVista service, firms have a one-stop-shop for all their real-time publication requirements and post regulatory reporting requirements for a multitude of regulations.
London Stock Exchange and Boat Services currently manage a substantial share of firms’ MiFID I trade reporting. By combining their existing trade reporting services in June 2017, the partnership will offer the breadth and quality of service needed to help financial firms efficiently comply with their pre- and post-trade transparency obligations in an increasingly complex regulatory landscape.
Jamie Khurshid, CEO of Boat Services said:
“We are delighted to maintain the relationship with SIX Swiss Exchange and welcome their remote members on to the TRADEcho platform. This demonstrates our intention to expand TRADEcho services beyond EU jurisdictions to provide our clients with straightforward solutions in an increasingly complex regulatory landscape.
Historically, remote members of the SIX Swiss Exchange reported their OTC trades in Swiss securities admitted for trading on a Swiss stock exchange to the reporting office of the exchange.
In 2011, Boat Services were approved as a TDM for SIX Swiss Exchange providing flexibility for remote members. TRADEcho being approved as a SIX Swiss Exchange TDM maintains the functionality for Boat clients and extends it to LSE member firms.