Software and services provider GoldenSource has integrated solutions from Trax that will enable its users to more easily meet the reporting obligations under Mifid II.
The facilities constitute Trax’ Approved Reporting Mechanism and Approved Publication Arrangement. As a provider of capital markets data, trade matching and regulatory reporting services, Trax processes about a billion transactions annually.
GoldenSource and Trax performed the integration in the second half of 2017, ahead of the January implementation of Mifid II. It means that firms reporting data through GoldenSource have the option for data to be automatically submitted to the Trax ARM or APA. The integrated solution is also said to facilitate meeting Securities Financing Transactions Regulation requirements. SFTR means details must be collected of repo or margin loans and reported to an EU trade repository.
Volker Lainer, vice president of product management at GoldenSource said: “While ESMA is expected to show a degree of leniency to those who scrambled to be ready for the January deadline, firms should be using this time to ensure their Mifid II capabilities are fully up to speed.”