IHS Markit Connects thinkFolio to TRADEcho
Business information provider IHS Markit (Nasdaq: INFO) announced that its thinkFolio investment management platform is now connected to TRADEcho’s Approved Publication Arrangement (APA), providing clients with a trade reporting solution for MiFID II.
MiFID II rules will shift the responsibility for trade reporting to the buy side for certain products. Firms using thinkFolio as their order management and portfolio modeling system can now form an agreement with TRADEcho to enable real time trade reporting to the TRADEcho APA and use of the TRADEcho Smart Report Router to report to other APAs.
In addition, IHS Markit has introduced a new layer within thinkFolio that enables interfaces to be changed independently of the main platform. This means that clients do not need to upgrade each time there are changes to regulation or if they want to connect to other venues. In total, thinkFolio can seamlessly connect to more than 20 venues impacted by MiFID II, providing clients with maximum flexibility.
“Over the past year, we’ve worked diligently with customers and partners such as TRADEcho to adjust to the ever-changing regulatory landscape,” said Spiros Giannaros, managing director and global head of thinkFolio and Enterprise Data Management at IHS Markit. “The flexibility that we’re offering through thinkFolio will prove invaluable for clients who manage the impact of these changes on their trading infrastructures.”
There are three key areas where action is required.
Some material changes have come out of ESMA’s review of algorithmic trading.
A consolidated tape will significantly improve transparency and create a level playing field.
AFME said there should be mandatory free data contribution to the consolidated tape.
The review is an opportunity to recalibrate MiFID II regulations post-Brexit.