Cappitech and Trax Join Forces to Provide MiFID II Reporting Services

Cappitech, , announced today that it has teamed up with Trax, which also offers regulatory reporting services. Together, the two firms will provide a streamlined MiFID II transaction reporting service.
The collaboration aims to allow financial institutions to easily meet their , including daily transaction reporting. This will be achieved by combining Cappitech’s regulatory reporting platform with the experience of , the statement said.

Specifically, Trax will integrate with Cappitech’s compliance technology, Capptivate a Software as a Service (SaaS) platform. This will allow the regulation-focused firms to cater to non-standard and more complex clients as well as larger companies.
As can be expected, the new reporting requirements under MiFID II require financial institutions to provide large sets of data from multiple areas of their business. To help with this, the CapptivateTM technology will combine all the different trading files of a company into a single file which will be formatted by . As a result, companies will have access to a tailor-made solution for their reporting needs.
Commenting on the partnership, Christopher Smith, Head of Trax said: “We’ve been working with Cappitech since MiFID I and our clients that use Cappitech’s technology to assist with their regulatory reporting have done so with great success.  Our continued work with Cappitech will help firms navigate the complex regulatory reporting environment MiFID II has brought to the industry.”
Currently, Cappitech has numerous clients within the European Union (EU) which are spread across more than 10 National Competent Authorities (NCAs). With the partnership, Cappitech has chosen Trax as its Approved Reporting Mechanism (ARM). This means when submitting trades Trax will handle the NCA integrations. This will improve the reporting process for Cappitech’s customers to NCAs.
Customers of Cappitech are already capitalising on the integration
Already, more than 40 of Cappitech’s customers are using the integrated technology. This includes German insurance company, Provinzial NordWest; Swiss bank, Swissquote and Irish broker, AvaTrade.