Ullink of Eastcheap in the UK is offering financial firms a multi-asset programme to help them comply with the European Union's post-trade transparency rules when they come into force in 2018.

Ullink, a global provider of electronic trading IT, is marketing some new MiFID-II-compliant trade reporting software. The aim is to help its customers be more accurate in reporting information to the regulators and to be faster at collecting data.

Trade reporting reform is a core component of the EU's second Markets in Financial Instruments Directive or MiFID II. Under the new rules, trading firms (including market-facing private banks) will have to send details of all trades in eligible financial instruments (both equity and non-equity) to market participants in real time, or as close to it as possible. For some instruments this means no later than 1 minute after the trade.

A recent survey conducted by WBR Research, which polled 150 equity traders in Europe, found that 37% of respondents cited ‘post-trading issues’ as the factor that they expected to cause them the most trouble in respect of MiFID II.

Ullink has hurried up its analysis of specifications from the European Securities and Markets Authority in a bid to rush to market with a programme before its competitors do. Its automated software can therefore handle the latest cross-asset class trade reporting requirements. If consists of a central dashboard that allows the user to keep track of the status of varous reports and to amend/cancel reports that pertain to many trade reporting venues operating under Approved Publication Arrangements (APAs). It includes 'smart report routing logic' that chooses between APAs.