Cappitech, a financial technology boutique offering bespoke solutions to both the buy- and sell-side, has extended the capabilities of its Capptivate Regulation Reporting platform to allow market participants to meet post-trade transparency requirements mandated by the Markets in Financial Instruments Directive II (MiFID II).
Offered as a SaaS product, Capptivate is an end-to-end solution for financial firms such as brokers, banks and asset managers to automate their trade reporting functions. It allows them to upload their trade reports and have them validated and sent directly to an Approved Reporting Mechanism (ARM) or Trade Repository (TR). Capptivate is now supporting EMIR, MiFID I and ASIC derivative reporting regulation.
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Adding greater functionality to increase reporting value, Capptivate users are now be able to use the solution to automate the creation and submission of Transaction Reports directly to an ARM.
MiFID II compliance is fundamentally a data challenge, and to help companies affected by the new regulation keep on top of their reporting requirements, Capptivate has added several additional features. This includes a GAAP Analysis, which consults with MiFID II experts to learn what trades are under scope and what data is needed to create reports. On a related note, the company provides ongoing reviews of client MiFID II reports to ensure they are reported correctly.
The suite of MiFID II transaction reporting and transparency tools also includes assisting of banks and brokers to an APA for real-time trade reporting. In addition to the APA reporting, Cappitech has developed a range of solutions, available now, to help firms report multiple regulation reports from a single data integration.
Commenting on the new upgrade, Ronen Kertis, CEO of Cappitech, noted: “MiFID II is a massive overhaul of regulation that financial firms now have to comply with. By supporting MiFID II requirements such as Transaction, Trade and Best Execution reporting, Cappitech believes we can help firms reduce their compliance headaches and lower their expected costs of handling the new regulation.”