Failure to meet transaction reporting requirements can lead to significant financial penalties and reputational damage to your firm.
Xtrakter's fully MiFID-compliant TRAX service provides a cost-effective and efficient means for you to comply with your transaction reporting obligations.
A single hub for your regulatory reporting
Processing millions of reports every day, TRAX is a one-stop regulatory reporting solution that can help you to increase efficiency and reduce your risks.
Whether supporting a single central reporting hub or rolling out multiple access-controlled and audited desktop installations, we have a solution to suit your needs.
You can easily integrate trading systems with the assurance that TRAX will report each transaction to the appropriate authority in accordance with their individual submission formats and validation rules.
Fully MiFID-compliant Approved Reporting Mechanism (ARM)
TRAX is compliant with the most recent extensions of the Markets in Financial Instruments Directive (MiFID). It supports all mandated reporting instruments, including Alternative Instrument Identifiers (AIIs) for derivative reporting.
In accordance with article 25 of MiFID, TRAX facilitates your reporting to the following competent authorities:
- Financial Conduct Authority (FCA) of the United Kingdom
- Autorité des Marchés Financiers (AMF) of France
- Authority for the Financial Markets (AFM) of the Netherlands
We also provide primary dealers with an onward reporting facility to the Belgian Financial Services and Markets Authority (FSMA) in accordance with FSMA and Securities Regulation Fund regulatory requirements.
TRAX provides confidence that you are reporting correctly, achieving a competent authority transaction rejection rate of just 0.002%.
You can cancel or amend transactions submitted via any Approved Reporting Mechanism (ARM). TRAX eases the process and allows for resubmissions to be handled through a single portal.
Flexible messaging options
TRAX is designed with high volume users in mind. It supports ISO 15022/20022, XML and flat file formats, via real-time and batched messaging options, enabling you to reduce integration risk and investment cost.