In the midst of an unprecedented global crisis, CME Group has announced its closure of most of its regulatory reporting services including NEX Regulatory Reporting and the CME European Trade Repository by 30 November 2020. We understand the stress and inconvenience this may bring to CME’s existing clients in terms of switching to another TR, ARM or reporting delegate.
TRAction is here to help CME’s existing clients and ensure a smooth transition of reporting services on or before November 2020. We currently have over 80 clients and report over 7 million transactions each day.
TRAction have worked with the CME in Europe for several years so we are familiar with their systems, but we also work extensively with other TRs and ARMs so are able to help you manage this transition.
This is how TRAction can help you:
1. Easy transfer of data
TRAction’s motto is to provide seamless reporting services to all our clients to simplify their trade reporting process. When you switch to us, we can either set up a direct connection with your platform or database to extract the relevant information or you can provide us with similar files to what you currently to send to CME.
2. High level of expertise
Trade reporting is TRAction’s core business which means we only do the reporting and nothing else. We invest all our time and energy in developing innovative and streamlined methods to report your trades. We excel in what we do and we are proud of what we’ve achieved. See below for 3 aspects of our all-rounded service for EMIR, MiFIR and SFTR reporting:
- Trade Data Extraction, Conversion and Enrichment
We can use direct feeds from trading platforms and back-office systems of financial firms to export clients’ trade data and convert it into the required format for reporting.
- Reporting Trades on your behalf
We submit the required reporting to a Trade Repository (TR) or Approved Reporting Mechanism (ARM).
- Advisory and Consultation
We provide regular industry insights and regulatory updates, explain to our clients their obligations and attend to any questions.
In addition, we have recently launched our Best Execution Monitoring Service which includes a best execution monitor and RTS 27 and 28 report preparation. We offer a free trial period to all our reporting clients for the enjoyment of this brand-new experience of the innovative technology. You will get this benefit too.
3. Friendly and dedicated team
We have a highly enthusiastic team with a client-focused mindset. We strive to stand in the shoes of our clients in order to deliver more effective solutions to them and reduce the gaps in communication. With our talented staff, we can also provide services in multiple languages if required.
Call us today or leave a message in the box on the right to find out how we can help you with the transition.
Quinn is co-CEO and founder of TRAction and focuses on assisting clients in Europe, Asia and Australia to meet their regulatory requirements with trade and transaction reporting solutions as well as development of the best execution platform. With a background in IT, Quinn started in the financial markets as IT Manager for City Index. He then co-founded and worked as a General Manager at one of Australia’s largest margin FX and CFD providers. Quinn has provided educational sessions to Australia’s regulatory bodies in relation to operational aspects of derivatives and trading platforms.