LONDON, March 14, 2018
/PRNewswire/ -- Gresham, London-based fintech software company and
leading provider of enterprise data integrity solutions today
announced a strategic partnership with Trax, the post-trade
services and European market data division of MarketAxess. Trax
will leverage Gresham's Clareti platform to power a sophisticated
3-way reconciliation service for regulatory transaction reporting.
Reconciliation is mandatory under MiFID II to ensure complete
and accurate transaction reporting. Regulatory Technical Standard
(RTS) 22, Article 15, specifies that reconciliation between a
firm's transaction data versus trade data as published by National
Competent Authorities (NCAs) is required by investment firms.
The new ARM (Approved Reporting Mechanism) service offers firms a
greater assurance of their data integrity across trading systems
and transaction reporting venues.
Whilst the regulatory reporting requirements for MiFID II have
been implemented and transparency delivered, many firms are now
seeking to drive greater efficiency and data quality across their
operational controls.
Ian Manocha, CEO, Gresham,
comments, "Some ARM services are only able to deliver simple
reporting processes, hamstrung by outdated software that limits the
efficiency and sophistication of the service. We are
delighted to be partnering with Trax, who can now bring absolute
confidence to even their most complex clients by delivering the
first simple, real time, 3-way data reconciliation of its
kind."
Individual accountability is being made far more explicit with
the FCA's Senior Managers Regime imposing wide-ranging implications
for executives unable to demonstrate control and effective
governance in relation to transaction reporting. Gresham's
Clareti platform delivers absolute precision, evidencing holistic
control between the trading systems, reporting systems and
NCA's.
Chris Smith, Head of Trax,
said, "Gresham offers an innovative technology solution that
helps us configure data controls efficiently. The speed of client
integration has proven to be a valuable benefit throughout the
on-boarding process, by offering varieties of file formats with the
highest data volumes. With Gresham we can offer our clients a
reconciliation solution that allows them to comply with confidence
and have total control over their data integrity."
Peyman Mestchian, expert and
advisor on fintech commented, "In the current real-time,
intraday, event-driven world, ensuring data quality is critical.
The impact of inaccurate and missing data and costs of manual
remediation are higher than ever so a service that can deliver
operational integrity is going to be disruptive in this
market."
Further info www.greshamtech.com/traxpoweredbygresham and
Twitter @GreshamTech