The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

TRAction Rolls Out New Regulatory Reporting Solution

Regulatory reporting specialist TRAction has launched a new MiFID II reporting solution utilising Refinitiv data to help UK and European investment managers meet Best Execution requirements.

With around a fifth of all investment firms in talks with the FCA about errors in their transaction reporting under MiFID II, according to an FOI request carried about consultancy Duff & Phelps, demand is growing for more sophisticated Best Execution analysis.

The Best Execution Monitor from TRAction compares transaction reporting data against Refinitiv data from the relevant time a trade has been executed. The software then displays statistics about the quality and pricing of execution.

“With numerous firms still not getting their transaction reporting up to scratch two years on from MiFID II, there has never been a more pressing need to understand the quality of trades being executed,” explains Quinn Perrott, co-CEO of TRAction. “Our new solution leaves no stone unturned for investment managers. All trades will be required to be monitored, not just the ones required under the transaction reporting rules, but those trading on non-MiFID II trading venues.”

“While well intentioned and a step in the right direction, we found the MiFID II best execution legislation vague and lacking clear procedures,” adds Craig Allison, of FP Markets. “Using the TRAction fintech platform, the procedure and logic is clearly defined giving us the ability to view all transactions as compared to the equivalent Reuters data as well as being displayed in a graphical report.”

Related content

WEBINAR

Recorded Webinar: Best practices for regulatory reporting

Regulatory reporting has been a cost and resource burden for financial institutions for many years, with the race to compliance in a highly regulated market often leading to multiple, singular regulatory reporting solutions. Legacy systems add to the challenges of making reporting changes in line with adapted and new regulations. This webinar will address these...

BLOG

Curve Partners with Passfort on New KYB Solution

Know Your Business (KYB) is one of the buzzwords in the AML space right now and we’re seeing increasing levels of activity as solutions providers seek to develop effective automated methods of assisting clients with their onboarding needs. This week heralds the newest of these partnerships, as card consolidation platform Curve signs up with CLM...

EVENT

TradingTech Summit Virtual

TradingTech Summit (TTS) Virtual will look at how trading technology operations can capitalise on recent disruption and leverage technology to find efficiencies in the new normal environment. The crisis has highlighted that the future is digital and cloud based, and the ability to innovate faster and at scale has become critical. As we move into recovery and ‘business as usual’, what changes and technology innovations should the industry adopt to simplify operations and to support speed, agility and flexibility in trading operations.

GUIDE

Corporate Actions

Corporate actions has been a popular topic of discussion over the last few months, with the DTCC’s plans for XBRL and ISO interoperability, as well as the launch of Swift’s new self-testing service for corporate actions messaging, STaQS, among others. However, it has not been a good start to the year for many of the...