TRAction Fintech has revealed exclusively to Finance Magnates this Thursday that it has expanded its partnership with UnaVista, the regulatory reporting platform of the (LSEG).
In particular, the two regulatory firms have gone into an expanded collaborative partnership, which is aimed at simplifying MiFID II, EMIR and SFTR reporting for forex and CFD brokers.
Under the agreement, TRAction Fintech’s for financial products, including OTC FX and Derivatives, have been integrated with UnaVista’s trade repository.
TRAction Fintech advanced due to CME closing Trade Repositories
Although the expanded partnership between TRAction and UnaVista was in the works before CME Group announced that it was closing down its European and Australian Trade Repositories, TRAction Fintech confirmed to Finance Magnates that the exit of CME Group did push the deal forward between the two companies, as the need for regulatory reporting services is even greater now.
Not only is CME closing down its Trade Repositories, but it will be winding down its and businesses, with all of the services to be closed by the 30th of November, 2020.
Source: LinkedIn
“They have been straightforward and easy to deal with, showing great skill in handling the reporting process for a large number of clients and transaction volumes. We look forward to now also providing TRAction Fintech and their clients with EMIR and SFTR trade repository services.”
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