With MiFID II coming into force 3 January 2018, global solutions and outsourcing services provider Linedata announced a partnership with London Stock Exchange Group’s UnaVista for transaction reporting requirements, with the aim of bringing increased transparency and efficiency to financial markets and strengthening investor protection.
The partnership effectively addresses MiFID II transaction reporting obligations, underscoring its focus on providing clients with leading solutions to meet these critical regulatory requirements.
The effort is part of its ongoing drive to provide clients with market leading solutions compliant with the European Union’s Markets in Financial Directive II (MiFID II). The regulation includes a requirement that investment firms submit detailed transaction reports to their NCAs within one day of a transaction.
In this case, the firms’ mutual clients will use UnaVista as an Approved Reporting Mechanism (ARM) to report transactions to National Competent Authorities (NCAs) for all required asset classes. Using Linedata’s reporting interface, clients can send in data from multiple sources; UnaVista then determines which transactions are reportable and to which competent authorities it must be sent. All trades involving financial instruments admitted to trading or traded on an EU trading venue are included.
Arnaud Allmang, Global Co-head of Asset Management and Servicing at Linedata, commented: “Partnering with UnaVista is one of many ways that Linedata is supporting our clients to simplify and streamline their investment processes under MiFID II. We are delighted to partner with UnaVista to provide our clients with the best possible transaction reporting solution.”
Wendy Collins, Managing Director, Global Strategic Partnerships at UnaVista, said: “Our partnership with Linedata will enable mutual clients to utilize leading technologies from both organizations to fulfil regulatory reporting in a timely and efficient way. UnaVista’s wealth of regulatory reporting experience will be key in helping Linedata’s clients automate workflows, and reduce regulatory and operational risk.”
Focused in the investment management and credit finance industries, Linedata is a 20-year old company based in Paris with 20 offices worldwide and covering 50 countries, with more than 700 clients.