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.
The fundamental benefits of using a delegated reporting provider include:
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.
There’s a number of ways our clients send us the data required for their daily reporting.
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.
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.
Compliance and operational staff at financial firms are required to stay abreast of regulations on a wide range of topics which are becoming increasingly detailed over time. This makes it almost impossible for small teams to properly implement all of them single-handedly. Specialist regulatory technology providers such as TRAction have sprung up to help firms with managing this diverse array of serious requirements.
On top of grappling with the complexity of the reporting requirements, applying them to your business creates and keeping them up to date as the rules change creates an added layer of difficulty.
We assist our clients by explaining transaction reporting requirements in an easy-to-understand manner, interpreting unnecessarily complicated industry jargon which can appear in the rules. We provide regular industry updates so that clients stay informed of regulatory changes.
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 trade repository (TR) or approved reporting mechanism (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.
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