The Most Common Errors in SFTR Transaction Reporting
We’ve identified the 3 most common errors in the transaction data we receive from our clients
Negotiating Favourable Prime Brokerage Agreements
Recently TRAction’s co-CEO Sophie Gerber spoke at Finance Magnates Pacific Summit 2024 in Sydney, alongside other industry experts Andrew Wood (Institutional Sales Manager – IG Prime), Martin St-Hilaire (Managing Director – Titan FX), and Astrid Raetze (Principal and Director – ABML Legal). The panel features insightful discussions about the following topics: Differences between Liquidity Providers, […]
The Complexities of ISO 20022 XML for Transaction Reporting
ESMA went live with SFTR in accordance with the ISO 20022 XML methodology in July 2020. This is the first time an EU transaction reporting regulation went live with XML being the only format available for submission. This XML structure was created to provide an industry-wide framework to be used by all financial standards initiatives. Coming into effect in 2023, the European Markets Infrastructure Regulation (EMIR) REFIT will be adding ISO 20022
EU EMIR Refit – Top 6 Changes That You Need to Know
The EU EMIR Refit rules begin on 29 April 2024. This revision is meant to align EU EMIR with global standards and improve data quality, as such there have been major changes introduced.
Payment for Order Flow (PFOF)
PFOF is a form of compensation that a brokerage firm receives for directing orders for trade execution to a particular market maker or exchange. Wholesale market makers have leveraged the almost exclusive use of electronic trading by retail investors to pay brokerages for the right to execute orders coming from their clients.
EU EMIR Refit – What Reporting Information Do You Need?
With the EU EMIR Refit go-live date set for 29 April 2024, the most common question raised by Reporting Counterparties is – what new information is required in EMIR Refit?
Update: the all-new User-Friendly Guide to Transaction Reporting in Europe and UK is here
TRAction is pleased to introduce the updated User-Friendly Guide to Transaction Reporting in Europe. The team at TRAction have refreshed our well-known guide for those reporting under EMIR and MiFIR/MiFID II in both the UK and Europe.
EMIR Data Quality Is Now A Regulator Focus
Since the introduction of transaction reporting, firms have spent significant proportions of their compliance budget on the initial implementation and ongoing technological solutions to ensure transactions are being reported to the regulators correctly and on-time.
Best Execution Best Practices
At its core, best execution is about outlining a set of rules and practices that require authorised financial services firms to seek the best possible result for their clients when executing their orders. The factors that need to be monitored encompass more than just price.
Do UK NFCs Trading With an Offshore Broker Inherit Their Reporting Responsibility?
Article 9(1)(a) UK EMIR requires non-financial counterparties (NFCs) who benefit from mandatory delegated reporting when trading derivatives with a financial counterparty (FC) to report both sides of their trades with NFC- entities, unless the NFC- entity has specifically requested otherwise. This reduces the burden on smaller non-financial counterparties.
