(LONDON, UK) Xtrakter^®, the market utility, is pleased to announce that TRAX^® will facilitate the regulatory reporting of exchange traded derivatives (ETD) and other complex derivatives in accordance with the requirements of the Markets in Financial Instruments Directive (MiFID) in Q1 09.

 

 

The Committee of European Securities Regulators (CESR) requires firms to regulatory report derivatives to competent authorities throughout Europe in accordance with MiFID. By utilising Alternative Investment Identifier (AII) codes the TRAX® community will be able to report ETDs and other complex derivatives via TRAX® to the Financial Services Authority (FSA) of the United Kingdom in Q1 09 thus fulfilling their transaction reporting obligations. 

 

“Many firms who are not members of the TRAX® community are unaware of their legal obligation to report exchange-traded derivatives under MiFID. We have been working closely with our clients to ensure they are compliant and to provide them with a seamless solution to this matter,” said Kevin Milne, Chief Executive of Xtrakter®.

TRAX^® is the leading post-trade, pre-settlement, trade matching & regulatory confirmation system in use by the OTC market. TRAX^® has been operating successfully since 1989 and has over 200 hundred subscribers located globally. TRAX^® processes on average 1.5 million transactions daily.

 

TRAX^® is an Approved Reporting Mechanism (ARM) under MiFID and provides regulatory reporting to FSA (UK), AMF (France), AFM (Netherlands) and NBB (Belgium) on behalf of the TRAX^® community. For more information about ETD and complex derivative reporting visit: http://www.xtrakter.com/aiinovember.aspx

More information:

 

 

Conor Coughlan
Marketing and Communications
Tel:  +44(0)20 7510 2692
Fax: +44(0)20 7538 4902
Click here to e-mail 

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