APA – TRADE REPORTING

Our in-house Approved Publication Arrangement (APA) can take care of all your MiFID II pre- and post-trade publication needs.

MIFID II APA

  • Our publication channels handle 400 million quotes a day from our internal execution venues.

  • We have extended this capability to handle pre-trade quoting from other Trading Venues and Systematic Internalisers (SI).
  • We can also ingest SI status from ESMA and help you with your end of day instrument reference data reporting

MIFID II TRADE-REPORTING REQUIREMENTS – AT A GLANCE

Services

SI Determination

Our tools help firms to determine whether they are an SI on an instrument-by-instrument basis. We work closely with other APAs and data providers to provide a reliable calculation of “frequent and substantial basis” against total EU-wide volume.

 

Eligibility Determination

We use multiple regulatory and reference data sources to filter out eligible quotes and trades for publication. These tools also flag quotes and trades which are eligible for waiver and deferral according to LIS and SSTI thresholds per instrument.

APA PUBLIC WEBSITE & REAL TIME FEED

Trades published by Investment Firms, Systematic Internalisers and Trading Venues are now being collected on both a real time and 15-minute delayed basis.

Delayed data can be accessed via https://apa.nexregreporting.com/ or customers can connect to a direct feed for machine-readable data.

Real-time data is available at a cost and delivered in JSON format via a direct feed.

  • Publication information including trade publications, waived & deferred information or exception management issues

  • Reference data, including: liquid instrument look-up, registered Systematic Internaliser database, ISIN database (subject to licensing arrangements)

  • Analytics, including: summary benchmarking against peers and other industry types, volumes by asset class, volumes by time window, and status of reportable information

APA Customer Feedback Form

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