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 face multiple sets of regulatory regimes to get on top of. These include EMIR and MiFIR in Europe, ASIC Rules in Australia, MAS Requirements in Singapore, Canada and the US.
TRAction charges a similar fee as if you were to report directly to the relevant trade repository (TR) or approved reporting mechanism (ARM), so we can save you both time and money.
Using a delegated reporting provider gives you the following benefits:
We make the process a whole lot easier and more cost-efficient than you devoting your internal compliance, legal and management resources (or in some cases external compliance and legal resources) to dealing with the trade/transaction reporting obligations.
Our solution covers the most commonly used trading platforms as well as platforms which have been self-developed or customised. These include MetaTrader 4, MetaTrader 5, cTrader, Currenex, IRESS, Market Pulse. For firms running multiple platforms through a back office, we can review whether extracting the trading information from the back office or the platforms is the most appropriate method.
After data extraction, we enrich and validate your data to ensure it meets the submission requirements.
A major benefit to delegating your reporting to TRAction is that we do all the necessary and complicated on-boarding work for you, and manage any exceptions in your data before and after submitting your trade/transaction information to the relevant body (e.g. trade repository (TR) or approved reporting mechanism (ARM)).
See our Self-reporting vs Delegated reporting comparison and find out how TRAction can make your reporting process more efficiently and stress-free.
Understanding the complexity of the reporting requirements (e.g. EMIR/MiFIR/ASIC/MAS/HKMA) is the first step, and then applying them to your business creates an added layer of difficulty. We do this work for our clients by explain to them their obligations and requirements in an easy-to-understand ways, and provide regular industry updates.
All of our services which add a lot of value to your business come at a similar cost to what you would otherwise pay if you went directly to a TR or ARM. However, we will bill you directly and manage your relationship with the TR or ARM to ensure it runs smoothly.
Through the industry experience of TRAction’s staff and the knowledge gathered engaging with regulators and repositories, TRAction is well-placed to help you navigate the complexities of complying with the trade/transaction reporting rules.
See our pricing schedules here.
If you think we could help in simplifying your reporting process, feel free to get in touch with us.