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Transitioning to a new regulatory reporting service can seem daunting and we understand the stress firms may face when switching to another reporting delegate, TR or ARM.
Whether you are just looking to switch your reporting delegate or transition between TRs/ARMs
TRAction manages every stage of the transition effectively and without complication
We have extensive experience working with multiple TRs/ARMs
TRAction currently supports financial firms, brokers, investment managers, banks and electricity suppliers, and reports millions of transactions each day
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?”
TRAction’s core business purpose is to provide seamless reporting services to simplify the daily reporting requirements for our clients. Stress-free.
Our solution covers both commonly used trading platforms and self-developed/customised platforms. For firms operating on multiple platforms, TRAction will conduct a review to determine the best extraction method for your trade data. Depending on what best suits your needs, we can either directly integrate with your platform to automatically extract trade data or you may send your trading files to TRAction, similar to what you would send to your existing TR/ARM or reporting delegate.
Trade reporting is at the core of TRAction’s business operations, which means our expertise lies in reporting and regulation. Our team invests significant time and energy in developing innovative and streamlined methods to report your trades.
We have an enthusiastic team with a client-focused mindset. We listen to our clients and consistently try to improve our services and solutions for them as well as reduce any gaps in communication. Our talented staff can also provide services in multiple languages if required.
into the required format based on your regulatory regime and financial products.
to both Trade Repositories (TRs) and/or Approved Reporting Mechanisms (ARMs) in the relevant jursidiction(s).
to help clients understand their obligations and answer any questions our clients may have.
TRAction understands the struggles that many firms are facing. We have compared the steps required to complete an onboarding process with us as opposed to onboarding with an Approved Reporting Mechanism (ARM)/Trade Repository (TR) directly.
| Self-Reporting | Reporting through TRAction | Complete onboarding with ARM/TR | Complete onboarding with TRAction (plus assistance onboarding with DTCC if reporting under MAS) |
|---|---|
| Obtain file specifications from the ARM/TR | Provide a file sample or access to data (for automated data transfer) |
| Review field requirements | Work with the onboarding team to ensure that the data is in the correct format |
| Test connections to ensure you can submit files | Finalise submission procedures |
| Populate files and upload to the ARM/TR in the User Acceptance Testing (UAT) environment | - |
| Review the output file and correct if necessary | Review the output file and contact TRAction to make any corrections |
TRAction provides financial and regulatory technology services across Europe and Asia Pacific. Established in Australia at the beginning of 2015 by Sophie Gerber and Quinn Perrott, TRAction quickly expanded to the European markets in 2016. Today, TRAction has offices in London, Sydney, Cyprus and Singapore. We support financial firms, brokers, investment managers, banks and electricity suppliers comply with their reporting obligations, and process millions of reportable transactions each day.
Meeting the reporting requirements may require re-training existing staff or hiring additional staff. The former can divert human resources from existing projects and the latter adds to employment expenses. Reporting through TRAction frees up internal resources and allows your team to focus on your firm’s core offering.
Firms need to spend time and resources to develop ways of generating transaction reports in the correct formats. This in addition to the procurement and storage of all the required data. Limit the infrastructure expenditure you incur. We have IT specialists who can work with your IT team to adjust your system outputs to be reporting-ready, again without additional charge.
Firms can directly engage with an ARM for MiFIR or TR for EMIR and SFTR. Charges are generally a fixed monthly or annual account fee plus a per-transaction charge. Reduce the need to obtain and pay for external advice. At TRAction, we provide regular regulatory guidance in our fees to improve your reporting obligations without engaging expensive external consultants. Best of all, we don’t add these charges to our base reporting offering.
The latest updates on regulatory changes and issues regarding trade/transaction reporting under ASIC, EMIR, MiFIR, SFTR, MAS and other regimes around the world.
