Ensuring compliance within your firm can quickly become unweildy. We recommend you consider maximising the effectiveness of your team by using specialist regtech companies.
The resources (financial, people, technology) required for ongoing compliance need to continually improve processes at an investment firm to stay abreast of changing regulatory requirements.
TRAction understands the struggles that many firms are facing. We have compared the steps required to complete an onboarding process with us as opposed to onboarding with an Australian Derivative Trade Repository (ADTR).
Self-reporting | Reporting through TRAction |
---|---|
Complete onboarding with the ADTR | Complete onboarding with TRAction |
Obtain file specifications from the ADTR | Provide a file sample or access to data (for automated data transfer) |
Review field requirements | Work with the onboarding team to ensure that the data is in the correct format |
Test connections to ensure you can submit files | Finalise submission procedures |
Populate files and upload to the ADTR in the User Acceptance Testing (UAT) environment | Review the output file and contact TRAction to make any corrections |
Review the output file and correct if necessary |
Additionally, we have summarised the top 3 ways in which delegated reporting can benefit you and maximise the effectiveness of your team.
Self-reporting | Reporting through TRAction |
---|---|
Limited Internal Resources
| Free up Internal Resources
|
Burden on Infrastructure
| Reduce Infrastructure Cost
|
Trade Repository Fees
| Cost Efficiency
|
When you onboard with us, we offer:
- Easy transfer of data – we can either set up direct connection with your platform to extract data or you can provide us with your data files for a seamless transition
- High level of expertise – trade reporting is TRAction’s core business offering which means we invest all of our time and energy into streamlining your reporting processes as well as providing guidance on the regulation
- Friendly and dedicated team – we have an enthusiastic team with customer-focused mindset which helps us deliver more effective solutions. With our talented staff, we can also provide services in multiple languages if required.
Interested to know more about how TRAction can make your business operations easier? Contact us for a free demo and we can talk you through how to simplify your trade and transaction reporting processes.