December 15, 2017 / 1:35 PM / a year ago

Barclays upgrades trading platform to comply with EU rules

LONDON, Dec 15 (Reuters) - Barclays will upgrade its trading platform for all financial products traded on exchanges on Jan. 3, taking on more trade reporting duties on behalf of its clients ahead of new European market reforms, a spokesman for the bank said.

Barclays is the latest bank to opt-in to ‘Systematic Internaliser’ status under the EU’s Markets in Financial Instruments Directive, otherwise known as MiFID II, which aims to push more trading onto regulated public exchanges.

The move means Barclays will take on the duties of reporting trades for clients trading products such as foreign exchange, bonds and shares on registered exchanges. (Reporting by Lawrence White; editing by Alexander Smith)

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