TRAction Fintech

Recent Updates

ASIC Aims to Simplify the Derivative Transaction Rules – Key Points from CP 334

ASIC calls for permanent removal of AVID and BIC as entity identifiers

The 3 Most Common EMIR Reporting Errors

Europe (EMIR / MiFID II)

What are EMIR & MiFIR/ MiFID II?

EMIR - requires all counterparties are required to report details of any derivative contract they have concluded, or which the counterparty has modified or terminated.
MiFID II/MiFIR - governs all aspects of the financial markets, including trading and reporting of many different financial instruments, and requires transactions to be reported to an Approved Reporting Mechanism (ARM).

Australia (ASIC)

What is ASIC?

ASIC stands for Australian Securities and Investments Commission. ASIC’s Reporting Rules 2013 provides a framework for the regulation of OTC derivatives reporting, clearing and trade execution. It requires all Australian entities dealing in OTC derivatives report transactions to an Australian Derivatives Trade Repository (ADTR) licensed by the ASIC. For more information on what to report and what your obligations are, click here.

Best Execution

What is Best Execution?

Best Execution is embedded in Article 27 of MiFID II which requires investment entities to provide the most favourable terms for the execution of client orders.

Execution venues including trading venues, systematic internalisers, market makers, liquidity providers (RTS 27 reports) and investment firms (including CFD/ FX brokers) who execute client orders through execution venues (RTS 28 reports) are required to report.

TRAction has developed a monitor to help you to comply with the Best Execution reporting requirements under MiFID II.

Global Reporting

Singapore - MAS

The Monetary Authority of Singapore (MAS) requires parties to a Specified Derivatives Contract (SDC) to report to a licensed trade repository or licensed foreign trade repository. For non-bank financial institutions and significant derivatives holders, the current reporting obligations only cover Interest rate derivative contracts & Credit derivative contracts. From 1 October 2021, the reporting obligations will expand to cover Foreign Exchange derivative contracts, Commodity derivative contracts & Equity derivative contracts. Find out more here.

Hong Kong - HKMA

The Hong Kong Monetary Authority (HKMA) requires specified OTC derivative transactions to be reported to HKTR. The obligations in relation to retail OTC Derivatives commenced on 1 July 2017. Financial entities that deal in interest rate swaps and non-deliverable forwards should already be meeting their reporting obligations under HKMA. Find out more here.

ASIC Aims to Simplify the Derivative Transaction Rules – Key Points from CP 334

Posted on February 16th, 2021

ASIC calls for permanent removal of AVID and BIC as entity identifiers

Posted on February 8th, 2021

The 3 Most Common EMIR Reporting Errors

Posted on February 2nd, 2021

Does the Post-Brexit Deal affect your EMIR/MIFIR/SFTR reporting?

Posted on January 8th, 2021

Have you heard of UK EMIR?

Posted on November 23rd, 2020

BREX-ID. Changes to national ID requirements after Brexit

Posted on November 19th, 2020

View Blog

What are EMIR & MiFIR/ MiFID II?

EMIR - requires all counterparties are required to report details of any derivative contract they have concluded, or which the counterparty has modified or terminated.
MiFID II/MiFIR - governs all aspects of the financial markets, including trading and reporting of many different financial instruments, and requires transactions to be reported to an Approved Reporting Mechanism (ARM).

What is ASIC?

What is Best Execution?

Best Execution is embedded in Article 27 of MiFID II which requires investment entities to provide the most favourable terms for the execution of client orders.

TRAction has developed a monitor to help you to comply with the Best Execution reporting requirements under MiFID II.

Singapore - MAS

Hong Kong - HKMA

Testimonials and Awards

"We found that TRAction Fintech really went the extra distance to understand our business and tailor solutions to our needs." – Anthony Brocco (Advanced Markets)
"Working with TRAction Fintech has lifted a huge burden off our shoulders with their services, from day one the team helped us understand and configured the format needed to automate our reporting requirements. The team is knowledgeable and responsive, any issues that arises they catch it and notify us. It has been a pleasure working with them." – Dave Manoukian (ATC Brokers)
"Easy and Efficient. TRAction delivers the most professional regulatory reporting services." – James O’Neill (Fair Markets)
"While well intentioned and a step in the right direction, we found the MiFID II best execution legislation lacking clear procedures. Using the TRAction Fintech's platform, the procedure and logic is clearly defined giving us the ability to view all transactions as compared to the equivalent Reuters data as well as being displayed in a graphical report." – Craig Allison (FP Markets)
"By outsourcing to TRAction, we were able to painlessly comply with our trade reporting obligations. We highly recommend their services." – Christopher Gore (Go Markets)
"Have been using this company for a few years now. very professional, friendly and helpful. looking forward to many more years of business with you guys. thanks" – Zahid Mahmood (House of Borse)
"We have worked with Traction Fintech for our trade repository requirements. With their extensive knowledge and prompt support, it has proved to be a good solution for many of our regulatory reporting needs." – Vivek Shetty (ICM Capital)
"TRAction is a trusted partner of KVB Prime (UK) Limited. TRAction has demonstrably assisted us in our regulatory trade reporting activities and has become one of our most trusted business partners. They are essential to our business. We are also delighted that TRAction’s co-CEO, Sophie Gerber’s effort has been recognised by RegTech and has become the winner of the Female Founder of the Year in the RegTech award. We seek to continue our business collaboration with TRAction to push our business even further." – KVB Board (KVB Prime)
"We’ve been using TRAction since early 2017. TRAction always goes the extra mile to ensure we properly meet our requirements, especially as they have significantly evolved during this time. TRAction's friendly and knowledgeable team made the on-boarding process seamless and extremely speedy for us." – Courtney Fitzsimmons (MEX Exchange)
"Making the decision to move from a large global firm to a more tailor made service with TRAction Fintech was the right decision for our business. The team have been by our side during implementation and reporting and are very experienced in this space. They provided us with a very cost effective solution with a high level or service and support. I would be more than happy to recommend TRAction Fintech as an experienced service provider." – Andy Charalambous (Ramek Asset Management)
"TRAction has been working flawlessly for us with a consistent, responsive and outstanding support. Thank you for the quality service and support your team has provided. It’s a pleasure working with you." – Miltos Varellitzis (Traders Trust)
"Traction Fintech is a great service provider of regulatory reporting services for financial institutions. Staff has developed a specific log for automated reporting of our transactions to the regulator, reporting is done promptly, all employees respond fast to all inquiries, any issues are easily solved. We are satisfied with quality service offered by Traction Fintech." – Sandugash Aimanova (UGM Securities)
"Traction FinTech worked with our fledgling business to ensure that we had the adequate processes around EMIR and MiFIR regulatory reporting matters. We introduced new processes which were aimed at fulfilling regulatory requirements, the guys from Traction proved to me that their strength is understanding the business environment and in ensuring that we respect our regulatory obligations. They worked in a commercial manner with the team and their practical approach was appreciated by all." – Ian Trussler (USG FX)
"Since we joined Traction we have been pleased with their reporting expertise, as well as our relationship with the team. One of the key things that have made Traction a good partner for us is the fact they have been able to automate the reporting elements they are involved with through integration with our systems." – Alex Eliades (X Global Markets)
Our co-CEO, Sophie Gerber, is winner of the Female Founder of the Year at the RegTech Awards 2020
Named a finalist in three categories at the 2020 Finnie Awards: Best Workplace Diversity, Excellence in Establishing Market Presence: Global, and Excellence in Regtech
Named a finalist in two categories at the 2019 Finnie Awards: Female FinTech Leader of the Year & Emerging FinTech Leader of the Year (Under 35)
Named a finalist in two categories at the 2018 Finnie Awards - Excellence in RegTech & Excellence in Establishing Market Presence: Global
Named a finalist in two categories at the 2017 Finnie Awards: Excellence in RegTech and Excellence in Establishing Market Presence: Global
Sophie Gerber has been named as a finalist for the FemTech Leader of the Year at the Awards
Traction Nominated for Regtech of the Year at the YBF Lift Off Awards
Climbed 3 places on the RegTech100 list in 2020 as one of the world's most innovative RegTech companies
Named as one of the world’s top 100 most innovative RegTech companies in 2019
Nominated as a finalist for the RegTech of the Year in RegTech Awards 2019
Nominated as a finalist in 3 categories in RegTech award 2020 - RegTech Female Founder, Australian RegTech of the Year, RegTech Export of the Year
TRAction is proud to be on the RegTech100 list third year in a row for 2021 as one of the world’s most innovative RegTech companies
Ranked 329 in Deloitte’s Technology Fast 500™ Asia Pacific 2018 for its technological innovation and rapid revenue growth over the past three years.

Google Reviews

Arthur Liu (GMTK Global)

We’ve been working with TRAction for almost 3 years now and we are really satisfied with the quality of their services – efficient, professional and reliable. Their team is helpful and friendly. With their great support, we are able to meet our regulatory trade reporting obligations. Highly recommended.

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Zahid Mahmood (House of Borse)

Have been using this company for a few years now. very professional, friendly and helpful. looking forward to many more years of business with you guys. thanks

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Vivek Shetty (ICM Capital)

We have worked with TRAction Fintech for our trade repository requirements. With their extensive knowledge and prompt support, it has proved to be a good solution for many of our regulatory reporting needs.

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Сандугаш Айманова (UGM)

Traction Fintech is a great service provider of regulatory reporting services for financial institutions. Staff has developed a specific log for automated reporting of our transactions to the regulator, reporting is done promptly, all employees respond fast to all inquiries, any issues are easily solved. We are satisfied with quality service offered by Traction Fintech.

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Dave Manoukian (ATC Brokers)

Working with Traction Fintech has lifted a huge burden off our shoulders with their services, from day one the team helped us understand and configured the format needed to automate our reporting requirements. The team is knowledgeable and responsive, any issues that arises they catch it and notify us. It has been a pleasure working with them.

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Matt Murphie (FP Markets)

TRAction really are the only company to use for trade reporting. They are excellent, great tech & run by very knowledgeable people. I recommend them, it’s a no brainer.

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Naji Afifi (Traders Trust)

TRAction has been working flawlessly for us with a consistent, responsive and outstanding support. Thank you for the quality service and support you team has provided. It’s a pleasure working with you

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James O’Neill (Fair Markets)

Easy and Efficient. TRAction delivers the most professional regulatory reporting services. By outsourcing to TRAction, the broker which I work for were able to painlessly comply with our trade reporting obligations. I highly recommend their services!

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TRAction Fintech - Trade Reporting Simplified

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ASIC Aims to Simplify the Derivative Transaction Rules – Key Points from CP 334

ASIC calls for permanent removal of AVID and BIC as entity identifiers

The 3 Most Common EMIR Reporting Errors

What are EMIR & MiFIR/ MiFID II?

What is ASIC?

What is Best Execution?

Singapore - MAS

Hong Kong - HKMA

ASIC Aims to Simplify the Derivative Transaction Rules – Key Points from CP 334

ASIC calls for permanent removal of AVID and BIC as entity identifiers

The 3 Most Common EMIR Reporting Errors

Does the Post-Brexit Deal affect your EMIR/MIFIR/SFTR reporting?

Have you heard of UK EMIR?

BREX-ID. Changes to national ID requirements after Brexit

What are EMIR & MiFIR/ MiFID II?

What is ASIC?

What is Best Execution?

Singapore - MAS

Hong Kong - HKMA

Testimonials and Awards

Services

Data Extraction & Conversion

Reporting Trades

Specialist Advisory