Xtrakter, a global provider of capital markets data, risk management, exchange matching, and transaction reporting services has announced the launch of its new TRAX Repository Link (TRL) and joint-initiative with the CME Group European Trade Repository (CME ETR), according to a Xtrakter statement.
In particular, the TRL acts as a nexus for reporting operations in accordance with the parameters of the European Market Infrastructure Regulation (EMIR) compliant services – these services ultimately channel, translate, and transactions to the CME Group’s European Trade Repository. CME Group specializes in derivatives, clearing, forex, options, and commodities; and the partnership is part of a greater aim at providing the most comprehensive reporting service and transparency to brokers.
A Bridge between Two Organizations, Fostering Transparency
Ultimately, the EMIR regulation has its fingerprints all over this decision, which effectively bridges the two repositories together. Furthermore, the CME ETR can trace its genesis to a 2013 registration with the European Securities and Markets Authority (ESMA), which operates as an EMIR-certified component.
How Will Zero-Fee Investment Platforms Impact Traditional Stock Brokers?Go to article >>
The TRL will effectively cover a plethora of asset classes constituting an extensive product suite – fixed credit and interest rates, equities, foreign exchange, derivatives and commodities are all included in this reporting service, and serve as a collective beacon for financial information across these classes.
February 12 EMIR Deadlines in Focus
According to Robert Urtheil, Chief Executive Officer at Xtrakter, in a recent statement, “Due to the impending February deadlines under EMIR, this is a crucial time to ensure that all OTC and listed derivatives are reported to an approved trade repository (TR). The launch of the TRAX Repository Link is an exciting expansion of Xtrakter’s TRAX reporting capabilities, providing a full suite of reporting services. In light of CME Group’s strong position in the derivatives markets, aligning with the CME European Trade Repository is consistent with our vision of providing efficient and technologically advanced reporting products for the European marketplace.”
This move also serves as a prelude to the February 12, 2014 deadline for all derivatives trades and over-the-counter (OTC) trades, dictated by fresh EMIR and ESMA regulation. On the other side of the operation, Chief Executive Officer Daniel Corrigan at CME Group reiterated that, “We are pleased to be associated with Xtrakter on the launch of the TRAX Repository Link. It is a clever reporting solution built on the well-respected TRAX post-trade matching engine.”