Trax Launches MiFID Instrument Reference Data Service
Identifying eligible instruments for reporting is a challenge for firms

Trax, a provider of capital markets data, trade-matching and regulatory reporting services, has launched an instrument reference data service.
The Trax MiFID List is intended to help firms overcome the regulatory challenge of correctly identifying reportable instruments under the Markets in Financial Instruments Directive (MiFID I). The service provides a view on MiFID I reportable instruments and an indication of eligibility for the upcoming revised directive, known as MiFID II.
Trax is working with clients to integrate the service into its regulatory reporting solution. Inputs to the reference data service include intra-day feeds from data vendors, exchanges, national numbering agencies and issuers, which are cross-checked with the European Securities and Markets Authority's MiFID database.
"Quality reference data is paramount for firms to meet their reporting obligations," says Nick Moss, transaction reporting product manager at Trax.
The suite of MiFID II transaction reporting and transparency tools will be available through Trax Insight, a web-based system.
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