INTERNATIONAL: Ullink Launches MiiFID II Trade Reporting Solution

Thursday March 23 2017

Ullink, a global provider of electronic trading and connectivity solutions to the financial community, has launched its MiFID II compliant trade reporting solution to help its clients meet regulatory requirements for greater accuracy in reporting and timeliness of data collection.

Trade reporting reform is a core component of MiFID II. Under the new rules, details of all trades in eligible financial instruments (both equity and non-equity) need to be published to market participants in as close to real time as possible. In practice, for some instruments this means no later than 1 minute after the trade.

This move is posing significant challenges for market participants, illustrated in a recent survey conducted by WBR Research. The survey, which polled 150 equity traders in Europe, found 37% of respondents cited ‘post-trading issues’ as the factor expected to cause the biggest impact of MiFID II reforms.

Ullink has fast-tracked the analysis of ESMA specifications to build an automated solution that will handle cross-asset class trade reporting requirements. The solution provides a central dashboard, providing status of reporting and ability to amend / cancel reports across multiple trade reporting venues operating under Approved Publication Arrangements (APAs). The solution includes Smart Report Routing logic for selecting amongst APAs based on business rules to optimise trade reporting costs.

Click on the link above for further details.