TRAction Control
Don't let your reporting slip
Turn on TRAction Control.
TRAction helps you keep your reporting on track. Learn more about our suite of products and procedures to keep your trade reporting from sliding out of control
We ensure that your trades are...
Accurate
Complete
Submitted
on time
Measures and controls
Alerts
TRAction has a system where we set maximum notional amounts per currency and an alert is triggered where that limit has breached for any of the day’s trades.
Symbols table
TRAction provides a symbols table to clients which contains the lot multipliers for all products on a weekly basis to the client Sharefile folder. These can be reviewed by clients to make sure no erroneous lot size multipliers are being applied.
Processes
Handback files
Handback files are provided to TRAction’s clients so they can review the submissions carried out on their behalf, identify errors and review corrected errors. Guidance on how to review the Handback files is provided to clients by email and is also saved in ShareFile.
Guidance
Materials are made available to clients about the transaction reporting process, common errors to be aware of and changes to regulatory requirements. This is available on TRAction’s website and also in regular newsletters sent to clients.
Scheduled monitoring and review procedures
TRAction has several stages of engagement internally amongst various departments at TRAction on a daily basis to discuss daily run reports, issues, anomalies, logic and development progress updates. TRAction also has a regular systems review process.
Regulatory/Legal/ Compliance review
Unusual or complex matters or issues are referred to TRAction’s legal & regulatory team to identify whether there is a regulatory compliance issue (including potential issues or non-compliance).
Checks
Identifying and rectifying errors or omissions
Checks for unusual details or data being entered into client files
TRAction has regular checks and validation procedures that are conducted to rectify errors or omissions proactively. We check for unusual details or data being entered into client files. TRAction’s processing team review the reports that have been run daily to see if there are errors or rejections. If there are repeated patterns of errors, our team reviews the issue with our developers to see if it is something we can improve going forward or otherwise our client services team will engage with clients to ensure the correct data is uploaded to their Sharefile each day to enable smooth submission by TRAction to the relevant trade repository
Internal daily meetings
TRAction has internal meetings on a daily basis to discuss any issues that may be present for a client and how to resolve and progress such issues. TRAction’s regular systems review and accuracy review procedures also assist with checking against the validation rules for the relevant global trade reporting regime as some of the fields do not necessarily get rejected by the relevant trade repository or approved reporting mechanism. TRAction therefore, has several levels of check of the relevant issues or queries present for our clients.
review
How frequently does TRAction review data integrity?
Is there any additional oversight processes or safeguards used to ensure compliance with trade reporting obligations?
TRAction utilises its legal and regulatory team’s assistance to ensure that the information or guidance we provide to our clients is correct and aligned with regulatory requirements. We ensure that our materials of guidance in relation to regulatory updates or industry issues are updated as soon as required for our clients and also, published on our website.
Transition to TRAction
Whether you're looking to switch your reporting delegate or transition between TRs/ARMs, TRAction manages every stage of the transition effectively without complication.
TRAction's Integrations
If you're considering passing the burden of reporting over to a delegated third-party like TRAction, you're probably wondering, "Can they connect to our current trading platform?"
Resources
See TRAction's dedicated resources page, including our blog and video content, to ensure you stay up to date with regulatory changes and trade and transaction reporting news
Contact us
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