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.
- 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