BATS Chi-X Europe is planning to roll out a new trade reporting service for European exchange traded funds (ETFs).
The new service is expected to bring more order and transparency to the fragmented market.
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Mark Hemsley, CEO of Bats Chi-X Europe, said that the object was to bring to the market the transparency that would be forced on them by Mifid II.
Under the Markets in Financial Instrument Directive (Mifid), reporting ETF trades will become obligatory as part of the review of Mifid, which is planned to come into effect in 2017.
The launch of a trade reporting service for ETF’s comes as market participants argue over the ownership and running costs of providing market data.
Additionally, BATS has signed a partnership with BX, the Bern exchange to launch a new trade reporting service for Swiss-listed ETFs from October this year.
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By GlobalData
