AxiomSL, a provider of regulatory reporting, data, and risk management solutions, has had an element of its solutions suite adopted by commodities trading firm Trafigura PTE, which will see the integration of its platform for global trade and transaction reporting, per an AxiomSL statement.
The new accord will see Trafigura deploy AxiomSL’s solution across a wide range of trade and transaction reporting channels, including Dodd-Frank, MAS, REMIT and EMIR, among others. The integration comes during a dramatic shift in the regulatory playing field, with venues trying to reconcile their future reporting obligations with existing policies.
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Looking forward the next few months, the EMIR phase II is slated to come into effect in November, not to mention the impending countdown towards MiFID II in January 2018. Consequently, Trafigura PTE Ltd is seeking a more strategic and holistic approach to trade and transaction reporting ahead of these regulatory headwinds.
Moreover, AxiomSL will also be delivering other utilities to Trafigura, including threshold monitoring checks, i.e. its Clearing Threshold Calculations for non-financial counterparties under EMIR and De Minimis Threshold.
According to Ed Royan, Chief Executive, AxiomSL, EMEA, in a statement on the integration: “We are extremely pleased to begin this relationship as the firm’s regulatory provider. As we continue to expand in to the energy and commodities sector, we look forward to developing a great connection with Trafigura. We are certain that AxiomSL’s data and process platform will give Trafigura the best means of ensuring that they meet all their global requirements in a timely and efficient manner.”
“Being responsible for the group’s P&L means that the decisions I make have to be the right ones. AxiomSL’s platform will provide Trafigura PTE Ltd with, what we believe is, the best system available to make the unforgiving regulatory process most efficient. AxiomSL was the only vendor that was able to provide all of our trade and transaction reporting needs, and we look forward to the partnership ahead of us,” explained Mike Wainwright, Chief Operating Officer and Trafigura Management Board member.