About a-team Marketing Services
The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Traiana Supports EMIR Reporting with a Management Solution for Unique Trade Identifiers

Subscribe to our newsletter

Traiana has started to onboard customers of its Unique Trade Identifier (UTI) management solution with a view to helping them meet the February 12, 2014 reporting deadline for European Market Infrastructure Regulation, which requires both sides of a trade to report using the same trade identifier.

The UTI management service is an extension of Traiana’s TR Connect trade reporting solution and is expected to be used not only by existing customers, but also by new customers and customers of the company’s bank customers. The service is designed to help firms cut through the complexity caused by different jurisdictions creating their own UTI methodologies and supports the exchange of UTIs between counterparties, allowing both parties to a trade to report to the same trade repository or to different trade repositories using a common trade identifier.

The solution uses Traiana’s Harmony network to gather UTIs in different formats from banks, normalises the data and publishes the UTIs to counterparties in a format of their choice, in real time or batch mode, giving them a consolidated view of UTIs for reporting. The service can also repurpose UTIs banks have used when reporting to trade repositories and distribute them to clients for counterparty reporting.

Taking the service a step further, reporting to a trade repository can be carried out on behalf of a client as the service can hold UTIs issued by a bank in Harmony and combine these with basic trade economics from the client to make a report. The company also offers a managed service that uses a bank’s trade economics to generate UTIs for the bank.

Steve French, director of product strategy at Traiana, comments: “We are experiencing a lot of interest in the UTI management service and are on boarding customers that need to be ready for EMIR reporting.” As well as complying with EMIR, banks must follow guidelines issued for the use of UTIs by regulators in Asia Pacific including the Honk Kong Monetary Authority, the Monetary Authority of Singapore, the Japanese Financial Services Agency and the Australian Securities and Investments Commission. French says Traiana is working with banks in the region to make sure they are compliant with the regulators’ reporting requirements. The company is also up to speed with the reporting requirements of the US Commodity Futures Trading Commission that include UTI equivalent Unique Swap Identifiers that are mandated in the Dodd Frank legislation.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Adding value and improving efficiencies in sanctions screening

Sanctions have been headline news this year. They are growing in number, sanctions lists are changing on a daily basis, and there can be conflict between sanctions issued by different jurisdictions – the whole calling for financial institutions to optimise sanctions screening to reduce risk and avoid potentially punitive penalties of non-compliance. This webinar will...

BLOG

LSEG Expands Digital Identity Capability with Acquisition of Global Data Consortium

London Stock Exchange Group (LSEG) has signed a definitive agreement to acquire Global Data Consortium, a provider of high-quality identity verification data to support clients Know Your Customer (KYC) requirements. LSEG says the acquisition is aligned to the group’s vision of becoming a market leading global digital identity and fraud solutions provider. GDC, combined with...

EVENT

TradingTech Summit Virtual (Redirected)

Trading Tech 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

Regulatory Data Handbook 2021/2022 – Ninth Edition

Welcome to the ninth edition of A-Team Group’s Regulatory Data Handbook, a publication dedicated to helping you gain a full understanding of regulations related to your organisation from the details of requirements to best practice implementation. This edition of the handbook includes a focus on regulations being rolled out to bring order and standardisation to...