Bloomberg and Bats Europe today announced a joint initiative that will allow their customers to use the companies’ Approved Publication Arrangements (APA)* to fulfil MiFID II transparency reporting requirements.
At a time when market participants are required by MiFID II to fulfil an ever greater number of reporting tasks, the joint initiative offers a reporting service for all asset classes via one feed directly through Bloomberg’s Regulatory Hub (RHUB), where clients can access a wide range of services including processing, enrichment and validation of client’s data, determination of whether reporting is needed and automatic distribution of required reports, while Bats APA is available for RHUB clients to fulfil equity and ‘equity-like’ trade reporting requirements.
Alejandro Perez, Global Head of Post-Trade Solutions at Bloomberg, said: “We are pleased to be working with Bats Europe, whose well-established position in equity reporting will complement Bloomberg’s expertise in providing workflow solutions across the non-equity asset classes. Our Regulatory Hub is designed to help clients fulfil their reporting requirements, while providing a single data entry point into our integrated, MiFID II solutions.”
Jerry Avenell, Co-Head of Sales at Bats Europe, said: “We believe this collaboration with Bloomberg will provide a simple, effective way for market participants to fulfil their range of trade reporting obligations under MiFID II. With the new reporting regulations coming into effect in less than nine months, we know that firms are looking for easy-to-implement solutions to meet these regulatory requirements. We believe this offering with Bloomberg will help streamline MiFID II preparations for many market participants.”
Bats Europe, is the largest equities exchange and trade reporting facility in Europe. Approximately sixty percent of all OTC equities trade reporting across the region is handled by Bats’ trade reporting facility, now becoming an APA for MiFiD II. Bats Europe covers 13,000 European equities and exchange-traded products.
Bloomberg’s Regulatory Hub (RHUB) connects to Bloomberg Approved Publication Arrangement (APA)2 and Approved Reporting Mechanism (ARM)3 for transparency and transaction reporting. RHUB provides full front to back service and synchronization with Bloomberg’s order management systems, best execution solution, surveillance, trade reconstruction and record-keeping solution, and many other regulatory services.