XTX Markets Selects Abide Financial for Multi-Asset Regulatory Reporting
- XTX Markets adds Abide Financial for its multi-regime regulatory reporting needs.
London-based Abide Financial, a leading regulatory reporting specialist with backing from ICAP Plc, has been chosen by XTX Markets to manage its compliance and transaction reporting obligations across multi-asset, multi-regime reporting channels.
Abide Financial will act as the managed service reporting partner for XTX Markets in order to handle its transaction reporting across multiple asset classes, according to a corporate announcement.
XTX Markets transacts in equities, as well as in fixed income, currency, and commodities (FICC), and Abide will provide multi-asset reporting across various regulatory regimes where the company has reporting obligations.
This synergy will help XTX meet its reporting obligations under EMIR, MIFID/MIFIR, SFTR and other regulatory regimes, thanks to support from Abide Financial’s solutions. The news follows after XTX Markets' appointing Jigar Patel to head its commodities division, as announced in the prior quarter - just before the company made another key hire from RBS.
The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
Abide doesn’t just provide a transaction processing conduit but a fully managed and end-to-end solution.
Fully managed reporting solution
As a leading global Spot eFX Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term provider, XTX Markets has risen over the years to acquire market share among top FX providers, as reported by Finance Magnates in prior related articles.
The firm describes itself as a quantitative-driven electronic market-maker that partners with counter-parties, exchanges and venues globally. In addition, Abide Financial had also strengthened its position including with help from ICAP Plc which invested in the company last year.
Michael Irwin
Source: XTX Markets
Commenting in a corporate statement regarding the announcement, Mike Irwin, Chief Operating Officer of XTX Markets, said: “We appointed Abide Financial as our reporting partner because of its specialised focus on transaction reporting. Abide doesn’t just provide a transaction processing conduit but a fully managed and end-to-end solution."
Mr. Irwin added: "Its strategy to own the complete reporting lifecycle (as an ARM and TR) was also a key differentiator in our decision-making process.”
Abide Financial CCO and founder, Chris Bates, said in a corporate statement regarding the synergy: “We are delighted to be XTX Markets’ reporting partner and to deliver a transaction reporting service that will provide complete peace of mind, allowing them to focus on their core business, rather than this particular part of the regulation. XTX Markets wants a holistic approach to reporting and Abide’s multi-regime reporting services provides just that.”
London-based Abide Financial, a leading regulatory reporting specialist with backing from ICAP Plc, has been chosen by XTX Markets to manage its compliance and transaction reporting obligations across multi-asset, multi-regime reporting channels.
Abide Financial will act as the managed service reporting partner for XTX Markets in order to handle its transaction reporting across multiple asset classes, according to a corporate announcement.
XTX Markets transacts in equities, as well as in fixed income, currency, and commodities (FICC), and Abide will provide multi-asset reporting across various regulatory regimes where the company has reporting obligations.
This synergy will help XTX meet its reporting obligations under EMIR, MIFID/MIFIR, SFTR and other regulatory regimes, thanks to support from Abide Financial’s solutions. The news follows after XTX Markets' appointing Jigar Patel to head its commodities division, as announced in the prior quarter - just before the company made another key hire from RBS.
The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
Abide doesn’t just provide a transaction processing conduit but a fully managed and end-to-end solution.
Fully managed reporting solution
As a leading global Spot eFX Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term provider, XTX Markets has risen over the years to acquire market share among top FX providers, as reported by Finance Magnates in prior related articles.
The firm describes itself as a quantitative-driven electronic market-maker that partners with counter-parties, exchanges and venues globally. In addition, Abide Financial had also strengthened its position including with help from ICAP Plc which invested in the company last year.
Michael Irwin
Source: XTX Markets
Commenting in a corporate statement regarding the announcement, Mike Irwin, Chief Operating Officer of XTX Markets, said: “We appointed Abide Financial as our reporting partner because of its specialised focus on transaction reporting. Abide doesn’t just provide a transaction processing conduit but a fully managed and end-to-end solution."
Mr. Irwin added: "Its strategy to own the complete reporting lifecycle (as an ARM and TR) was also a key differentiator in our decision-making process.”
Abide Financial CCO and founder, Chris Bates, said in a corporate statement regarding the synergy: “We are delighted to be XTX Markets’ reporting partner and to deliver a transaction reporting service that will provide complete peace of mind, allowing them to focus on their core business, rather than this particular part of the regulation. XTX Markets wants a holistic approach to reporting and Abide’s multi-regime reporting services provides just that.”