TRAction has been again named as one of the most innovative RegTech companies using technology to solve a significant regulatory problem, in our case transaction reporting.
RegTech 100 is an annual list of 100 of the world’s most innovative RegTech companies awarded by RegTech Analyst. The panel of analysts and industry experts shortlisted 100 out of over 1000 companies this year by considering the following factors:
- Impact on the problem being solved;
- Growth in terms of capital raised, revenue & customer traction;
- Innovation of technology solution offered;
- Potential cost savings, efficiency improvement, impact on the value chain and/ or revenue enhancements generated for clients; and
- How important is it for a financial institution to know about the company.
“TRAction has seen major growth in its European client base in 2019, as the MIFID II reporting regime saw better adoption and consensus across the industry, especially on what to report and how to report” said Quinn Perrott, co-CEO.
Even with the constantly looming uncertainty of Brexit and global product interventions by regulators, TRAction managed to go from strength to strength and increase its daily reported transaction volume to over 5 million globally.
“One of the highlights was successfully navigating major changes to ASIC OTC derivative reporting that saw many firms having new requirements to report every trade instead of just those currently open as a snapshot at the end of each day” said Sophie Gerber, co-CEO.
About TRAction Fintech
TRAction is a specialist firm with one simple purpose: making life easier when it comes to daily transaction reporting requirements for EMIR, MiFIR, Best Execution (Europe) and ASIC (Australia) reporting regimes. TRAction is already a major provider of transaction reporting solutions to the global financial market and currently has offices in Australia, London, Cyprus and Singapore to assist our clients to comply with trade reporting obligations around the world.