TRAction’s Services

Data Extraction

Data Extraction, Conversion and Enrichment

Report Trades on your Behalf

Report Trades on your Behalf

Specialist Advisory

Specialist Advisory and Consultation

Regulatory trade and transaction reporting can be complex and unwieldy. It ties up firm resources that could be otherwise used in the delivery of your products and services.

Different regions around the world have different reporting obligations, so if you’re a cross-border business or aspire to be one, you’ll face multiple sets of regulatory regimes of which you must get on top of. These include EMIR, MiFIR/MiFID II, SFTR and Best Execution in Europe, ASIC Rules in Australia, MAS and Best Execution Requirements in Singapore, Canadian Reporting and the US regime.

TRAction charges a similar fee as if you were to report directly to the relevant trade repository (TR) or approved reporting mechanism (ARM) for almost all of the regimes listed above, so we can save you both time and money.

Benefits of Using a Delegated Reporting Service

The fundamental benefits of using a delegated reporting provider include:

  • relieve burden on human and internal resources assigned to trade reporting;
  • understand the trade reporting obligations;
  • ensure the reporting requirements and industry standards are met; and
  • stay informed and up-to-date with any regulatory change.

We make the process a whole lot easier and more cost-efficient than if you were to devote your internal compliance, legal and management resources (or in some cases external compliance and legal resources) to managing your trade/transaction reporting obligations.

Data Extraction, Conversion and Enrichment

Our solution covers the most commonly used trading platforms via direct extraction and/or the computational handling of trading platform outputs. Platforms include MetaTrader 4, MetaTrader 5, cTrader, Currenex, IRESS and Market Pulse. For firms operating on multiple platforms through a back office, you can either opt for direct integration with your platform to automatically extract trade data or have your trading files sent to TRAction in csv format, depending on what is most appropriate for your business.

After data extraction, we convert, enrich and validate your data into the required reporting format. This process ensures your trade data meets the submission requirements prior to final submission to TR/ARM.

Reporting Trades on Your Behalf

A key benefit to delegating your reporting to TRAction is that we do all the necessary and often complicated onboarding work for you with the TR/ARM. We manage any exceptions in your data before and after submitting your trade/transaction information.

We’ve summarised how TRAction can make your reporting process more efficient and stress-free under EMIR, MiFIR/MiFID II, SFTR, Best Execution, MAS and Canadian Reporting.

Specialist Advice and Compliance Support

Understanding the complexity of the reporting requirements is one step; applying them to your business creates an added layer of difficulty. We do this work for our clients by explaining their requirements in an easy-to-understand manner, interpreting unnecessarily complicated industry jargon. Additionally, we provide regular industry updates so that clients stay informed of regulatory changes.

Costs of TRAction Services

All of our services add significant value to your business and come at a similar cost to what you would otherwise pay if you went directly to a TR or ARM. We bill you directly and manage your relationship with the TR or ARM on your behalf to ensure your reporting runs smoothly.

Through the industry experience of TRAction’s staff and the knowledge gathered engaging with regulators and trade repositories, TRAction is well-placed to help you navigate the complexities of complying with the trade/transaction reporting rules.

View our pricing schedules.

Would you like to simplify your reporting process? Feel free to get in touch with us today.

Recent Articles:

EMIR

What is an NFC-?

Entering into derivative transactions, you become a ‘counterparty’.
EMIR introduces two types of counterparties: Financial Counterparties (FC) or Non-Financial Counterparties (NFC).

Repo Agreements
About TRAction

How Are Repurchase Agreements Reported for SFTR?

A repurchase agreement (repo) is a form of short-term secured loan where one party sells securities to another and agrees to repurchase those securities later at a higher price with the securities serving as collateral for the borrower.

EMIR

Refit, Rewrite, RTS, EMIR II; Navigating the Maze of EMIR Version Names

Regulatory reporting is hard enough without the confusion over which version of each regime is the latest. EMIR has gone through a number of variations since it was first implemented in 2012. We thought it would be a great time to outline what the EMIR version names relate to and where we are currently at as we anticipate further changes to the regime.

ASIC

Reminder: Daylight Saving Time Ends this Weekend for New York

Are you reporting trades by New York (NY) time or following NY close of business? If so, it is important to check your trades/transactions are still reported at the correct time now that daylight saving time (DST) has started in the US (13 March 2022).