Trax Taps Thomson Reuters’ MiFID II Suit for Reference Data

Thomson Reuters has partnered with Trax, a Singapore-based startup serving the retail industry, to handle its MiFID II regulatory requirements such as reference data, corporate actions, entity data, end-of-day data, and intraday data.

Earlier this year, as a major piece of EU legislation went into effect on January 3, 2018, Thomson Reuters went live with a number of MiFID II solutions. The data vendor launched a suite of compliance products to assist the ‎financial services industry with ensuring ‎ongoing compliance with the sweeping market reform.‎

The Thomson Reuters MiFID II suite handles the complexity of the ‎legislation and provides a concise view of what organizations should ‎consider, from changing how research is paid for to reporting more detailed information about trades.

Under MiFID II regulations, ‎trading venues, approved reporting mechanisms, organized trading ‎facilities, investment firms and sell-side firms will each have a ‎significant reporting obligation to both ESMA and their local ‎regulatory body. ‎

Commenting on the new deal, Chris Smith, Head of Trax, said: “Although MiFID II implementation took place on 3rd January 2018, the industry is still confronted with impending regulatory obligations, including the start of the Systematic Internaliser regime. As one of the leading providers of both trade and transaction reporting services through a centralised platform and also SI determination services, working with a reputable partner like Thomson Reuters is paramount.”

Mifid Ii Compliance ‎Offering for FX Derivatives

Thomson Reuters has enhanced its services with major updates ‎introduced since the big MiFID II go-live.‎ This included its MiFID II compliance ‎offering for FX derivatives trading, adding into production ‎system improvements to its Multilateral Trading Facility ‎‎(MTF). The vendor previously enabled MTF-support ‎for FX forwards, Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term, NDFs and options trading on ‎FXall as well as for swaps trading on Thomson Reuters ‎Matching. The company released interfaces to both FXall ‎and FX Trading that accommodate new data fields as well ‎as improve post-trade STP feeds to assist customers with ‎reporting and record-keeping requirements.‎

The solution is already available to clients from 57 global ‎exchanges and eight new MiFID II trading and reporting venues.‎

Thomson Reuters has also updated instrument reference data capabilities to ensure a seamless ‎transition into the MiFID II regulatory environment relating to 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 ‎workflow, trading controls, post-trade ‎transparency, and reporting.‎

The company added 1.6 million new pre-fixed individual ‎identifiers (ISINs) for OTC derivatives including 300,000 new financial ‎instruments, additional data for 900,000 existing instruments, and over 5 million records from the Financial Instruments ‎Reference Data System (FIRDS).‎

Our upcoming London Summit 2018 will weigh in on opportunities in the face of ever complex regulatory requirements, and on what makes latest developments in European regulatory regimes (MiFID 2, SFTR, etc.) a hot deal.