TRAction, a leading provider of trade reporting solutions, and cTrader, a global leader in multi-asset forex and CFD trading systems, announced a new integration between TRAction’s reporting platform and Spotware’s cTrader platform. In response to the regulatory emphasis on the importance of data quality, the recent integration aims to streamline the reporting process, ensure data submission accuracy, and alleviate the operational burden of existing and incoming reporting requirements.

cTrader has always placed a high priority on facilitating transaction reporting for its clients, recognising the importance for brokers to comply with regulatory requirements in order to maintain their licensing. Spotware’s Reporting APl helps to capture and transmit raw trading platform data. Thanks to the union with TRAction, cTrader brokers can now automatically generate regulatory reports based on raw data captured in their system.

TRAction, which specialises in regulatory reporting to simplify compliance for asset managers, offers its clients a range of pre-built integrations with trading platforms to help minimise the manual processes involved in their ever-growing daily reporting obligations, including new upcoming requirements such as the EMIR Refit, as well as the upcoming ASIC and MAS rewrites.

With this integration, firms offering the cTrader platform can seamlessly carry out their daily transaction reporting processes by enabling TRAction to automatically extract, convert, enrich and report their data in the appropriate format. This direct connection between cTrader and TRAction eliminates the need for manual data collection, reducing the likelihood of errors and improving daily reporting quality. 

TRAction’s latest integration with Spotware’s cTrader is now live and in production, with the first joint client of TRAction and cTrader deploying the solution in recent weeks.  Additionally, existing clients can transition to use of the integration if they have cTrader already or plan to add it in the future.

Quinn Perrott, co-CEO, TRAction, commented:

“To meet regulatory obligations, it is now crucial for firms to work with specialised technology partners to share the burden of implementing complex requirements. If you’re considering outsourcing your transaction reporting to TRAction, you may be wondering if they can integrate with your trading platform. At TRAction, we understand that delegating your transaction reporting should relieve your stress, not add to it.  TRAction works to integrate with as many platforms as possible, including Spotware’s cTrader.”

Spotware’s CEO, Ilia Iarovitcyn, stated:

“When it comes to our brokers, we fully acknowledge the importance of reporting. This is exactly why we are happy to provide our Reporting API to all clients free of charge.  We also remain open to integrations and development work with other solution providers like TRAction that help make brokerage operations more convenient.”