GoldenSource has extended its support for compliance with Markets in Financial Instruments Directive II (MiFID II) by integrating its enterprise data management platform with Approved Reporting Mechanism (ARM) and Approved Publication Arrangement (APA) services from Trax.
The integration can be scaled to meet other regulatory reporting requirements such as Securities Financing Transactions Regulation (SFTR), which is expected to come into play in 2019 or 2020 and includes a number of new rules for market participants, including a requirement to report all SFTs to a registered trade repository.
The integration with ARM and APA services provided by Trax, the post-trade services and European market data division of MarketAxess, was developed in Q3 and Q4 of 2017, ahead of MiFID II go-live in January 2018. It gives firms that manage MiFID II reporting data through GoldenSource the option for the data to be automatically submitted to the Trax ARM or APA, helping ensure efficiency and reporting accuracy.
Volker Lainer, vice president of product management at GoldenSource, says: “What we are offering is a single way for market participants to meet their MiFID II reporting requirements in an efficient and consistent manner.”
Nick Moss, head of product management at Trax, adds: “Leveraging integrated solutions, such as the link between Trax and GoldenSource, can help firms streamline operational processes and gain greater control of reporting integrity.”