Two of Europe's largest exchanges are working to offer cross asset reporting functionality to clients ahead of the release of final technical standards for Mifid II. Bats Chi-X-Europe and the London Stock Exchange are both looking to capitalise on the regulatory reform.

Bats Chi-X Europe, the largest exchange in the EU by market share, has set up a working group with 10 tier-one banks to explore an extension of its existing trade reporting facility into over-the-counter derivatives and bonds, according to a person familiar with the discussions.