ULLINK, a provider of electronic trading and connectivity solutions, has released a new data utility for transaction reporting, called UL PUBLISHER – the launch of the automated post-trade data management solution comes ahead of the implementation of MiFID II, with firms looking to adapt to new regulatory obligations in January 2018.
UL PUBLISHER was designed to enable market participants to report transaction data to relevant regulatory authorities, which encompasses a multitude of shifting requirements via the passage of MIFID II. Furthermore, the new solution will also create a more centralized view of post-trade data across multiple asset classes and front-office electronic trading systems.
Countdown to MiFID II
With over half a year to go until its ultimate passage, many firms have opted to roll out new MiFID II solutions to help venues better meet their reporting obligations. A newly defined playing field, while still months away, will prevent a series of challenges for groups, who will all need to validate and submit tracking orders and trade data in a more comprehensive manner.
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For example, in terms of transaction reporting, MiFID II will be introducing a litany of requirements for more than sixty new data items to be reported alone, as well as additional responsibility on both buy-sides and sell-sides to report under different reporting scenarios. As such, UL PUBLISHER is looking to shore up this area, providing a centralized solution for post-trade data management.
According to Richard Bentley, Chief Product Officer at ULLINK, in a statement on the solution: “Much of the impact of MiFID 2 on post-trade workflows concerns data – the need to collect, normalise and enrich an extended data set across a variety of front-office systems.”
“UL PUBLISHER provides the means to centralise this process across asset classes in a fully-automated fashion, minimising impact on existing trading platforms and providing a single, consistent data set to feed downstream processes. Collation of order and trade information for transaction reporting via an ARM is only one of the potential application areas of this new solution,” he explained.
ULLINK made headlines earlier this month after it partnered with Valemobi, a Brazilian provider of capital markets technology – the new collaboration will see the deployment of a jointly engineered solution for local asset managers and buy-side institutions, promoting greater connectivity across Brazilian capital markets.