Data
Transparency
How the pre-trade and post-trade transparency obligations in MAR 11 apply to the options traded on the venue, and what the venue publishes as a result.
Pre-trade
MAR 11 applies pre-trade transparency to continuous order book, quote-driven and periodic auction systems. OptAxe operates a request for quote system, so pre-trade transparency does not apply to the venue and no waiver is relied on, as set out in Rulebook rules 7.1.1 and 7.1.2.
Post-trade
The venue's Eligible Instruments are category 2 instruments. OptAxe publishes its own post-trade reports as operator, rather than through an approved publication arrangement, no later than 18:00 London time on the second business day after the trade date under the venue-determined deferral in Rulebook rule 7.1.4. Spot hedge legs are not published. The deferral is reviewed annually and whenever a new instrument class is admitted.
View published tradesTransaction reporting
As an MTF, the venue submits transaction reports for transactions executed on it where the participant is not itself subject to the reporting obligation.
EMIR reporting
Trade reporting under EMIR remains the obligation of the counterparties. The venue provides the data participants need to report.
Venue data
Beyond regulatory transparency, aggregated, anonymised venue activity data is available to participants on request.