oneZero Teams Up with TRAction, Supporting MiFID II and EMIR Solutions
- The accord will help simplify MiFID II and EMIR transaction reporting for FX and CFD brokers.
The demand for Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and MiFID II compliant services has never been higher with the new regime coming into effect in just three weeks. Ahead of the January 3 deadline, oneZero and TRAction Fintech have teamed up to offer a strengthened MiFID II and EMIR transaction reporting solutions suite.
In a few weeks, MiFID II and EMIR will constitute the two most pertinent compliance regimes in Europe. Given the implementation of MiFID II, firms have an extraordinary demand for new solutions, many of which are at a premium ahead of the deadline.
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Laws of the land
MiFID II will dramatically reshape the financial services industry. Its growing scope of asset classes reflects a major hurdle for firms who are looking to maintain compliance under the new legislation. The new alliance between TRAction Fintech and oneZero Financial Systems will look to simplify transaction reporting for both FX and CFD brokers.
Andrew Ralich
Andrew Ralich, CEO of oneZero, commented on the partnership: “The complementary nature of our business offerings and large overlap of client base meant that this partnership was a natural move for us. We see regulatory reporting and data transparency as a major defining aspect of the electronic trading industry in 2018 and beyond. Efficiency in compliance will be a major factor to maintain the status quo in financial markets during this time of immense regulatory change.”
The partnership will draw on both groups’ combined services suites that are together central for FX and CFD brokers under both MiFID II and EMIR. MiFID II isn’t the only regulatory regime slated for change – EMIR RTS2 also looms as a huge cost and resource challenge for investment firms.
Both groups will look to facilitate streamlined compliance under both MiFID II and EMIR. This includes the easy integration of trading platforms with regulatory reporting systems, which will attempt to displace legacy reporting techniques. Indeed, data extraction, conversion, and overall enrichment can result in complicated processes that are both risky and expensive.
The accord will see oneZero’s Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and connectivity services combined with TRAction Fintech’s reporting solutions. An underlying attribute of the integration will be the unified trade reporting model that oneZero currently offers as its ‘Rosetta Stone’ of trade information for global regulatory reporting.
By extension, TRAction Fintech has already coupled this interface with its existing, vetted translations to a variety of global trade repositories. “TRAction Fintech is excited to be teaming up with oneZero to deliver the most efficient and simple regulatory reporting process available,” explained Quinn Perrott, General Manager of TRAction Fintech.
Moreover: “The introduction of MiFID II/ MiFIR and the updated EMIR RTS2 pose a huge cost and resource challenge for investment firms, and we are proud to be providing a simple means of reporting the relevant data while ensuring minimal disruption to businesses during this critical time,” he added.
The demand for Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and MiFID II compliant services has never been higher with the new regime coming into effect in just three weeks. Ahead of the January 3 deadline, oneZero and TRAction Fintech have teamed up to offer a strengthened MiFID II and EMIR transaction reporting solutions suite.
In a few weeks, MiFID II and EMIR will constitute the two most pertinent compliance regimes in Europe. Given the implementation of MiFID II, firms have an extraordinary demand for new solutions, many of which are at a premium ahead of the deadline.
[gptAdvertisement]
Laws of the land
MiFID II will dramatically reshape the financial services industry. Its growing scope of asset classes reflects a major hurdle for firms who are looking to maintain compliance under the new legislation. The new alliance between TRAction Fintech and oneZero Financial Systems will look to simplify transaction reporting for both FX and CFD brokers.
Andrew Ralich
Andrew Ralich, CEO of oneZero, commented on the partnership: “The complementary nature of our business offerings and large overlap of client base meant that this partnership was a natural move for us. We see regulatory reporting and data transparency as a major defining aspect of the electronic trading industry in 2018 and beyond. Efficiency in compliance will be a major factor to maintain the status quo in financial markets during this time of immense regulatory change.”
The partnership will draw on both groups’ combined services suites that are together central for FX and CFD brokers under both MiFID II and EMIR. MiFID II isn’t the only regulatory regime slated for change – EMIR RTS2 also looms as a huge cost and resource challenge for investment firms.
Both groups will look to facilitate streamlined compliance under both MiFID II and EMIR. This includes the easy integration of trading platforms with regulatory reporting systems, which will attempt to displace legacy reporting techniques. Indeed, data extraction, conversion, and overall enrichment can result in complicated processes that are both risky and expensive.
The accord will see oneZero’s Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and connectivity services combined with TRAction Fintech’s reporting solutions. An underlying attribute of the integration will be the unified trade reporting model that oneZero currently offers as its ‘Rosetta Stone’ of trade information for global regulatory reporting.
By extension, TRAction Fintech has already coupled this interface with its existing, vetted translations to a variety of global trade repositories. “TRAction Fintech is excited to be teaming up with oneZero to deliver the most efficient and simple regulatory reporting process available,” explained Quinn Perrott, General Manager of TRAction Fintech.
Moreover: “The introduction of MiFID II/ MiFIR and the updated EMIR RTS2 pose a huge cost and resource challenge for investment firms, and we are proud to be providing a simple means of reporting the relevant data while ensuring minimal disruption to businesses during this critical time,” he added.