Firms combine to offer joint regulatory solutions

gavellaw booksAs MiFID II and MiFIR go live in early 2017, two large regulatory reporting firms have joined forces to provide solutions for clients.

UnaVista, the London Stock Exchange’s own platform for regulation and data solutions and DTCC, the US post-trade financial services company, have combined to provide clients with a connection to UnaVista’s Approved Reporting Mechanism (ARM).

The service will allow DTCC clients to comply with MiFIR utilising their current connection from DTCC’s Global Trade Repository (GTR). The MiFIR reporting requirements will supplement the existing EMIR post-trade reporting requirements for derivatives trading activities.

As UnaVista and DTCC are both approved trade repositories for the EU derivative regulation, EMIR, UnaVista can also route transactions on behalf of its clients to DTCC for global derivatives reporting.

UnaVista and DTCC currently jointly process around 20 billion regulatory reports annually, across all asset classes and global markets. Using this joint offering, GTR users will be able to submit a single report, combining the MiFIR and EMIR data elements. MiFIR relevant data will be extracted and routed to UnaVista for validating and reporting to the relevant pan-European competent authorities.

“With this joint solution, users can continue to satisfy MiFIR and EMIR regulatory mandates leveraging the single platform, DTCC’s GTR,” says Andrew Douglas, chief executive officer of GTR Europe for DTCC.

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