APA: Assisted Reporting Model

The Assisted Reporting model permits Investment Firms (typically buy-side) to utilise the technology of counterparties to assist them in meeting their regulatory responsibilities.

Under this model, firms would require a standard contractual relationship with Cboe and be subject to the standard pricing.

Key Advantages

  • Buy side – Provides a low-cost, lightweight solution for trade reporting obligations
  • Buy side – reduced integration and ongoing costs (connectivity, ports)
  • Buy side – APA delivery risk reduced
  • Buy side – access to full range of tools as if they were directly connected
  • Sell side – changes to reporting logic would be more limited than if many buy side decided to report themselves when required
  • Both buy and sell side – limits scope for proliferation of equity APAs, commercial and technical costs associated with re-aggregation of data from many sources
The diagram below illustrates the Assisted Reporting model.