Ullink, the Paris-based provider of trading solutions and connectivity, has launched a new trade reporting solution aimed at meeting new regulatory requirements for greater accuracy in reporting and timeliness of data collection under Mifid II.
Ullink’s automated trade reporting solution covers cross-asset class reporting requirements and provides a centralized dashboard displaying reporting status and abilities to amend or cancel reports across multiple trade reporting venues operating under Approved Publication Arrangements (APAs). An APA, which was introduced under the original Mifid regulation, is an entity authorized to provide trade reports on behalf of investment firms.
Under Mifid II, details of all trades in eligible financial instruments (both equities and non-equities) need to be published to market participants in as close to real time as possible, which in some cases may be 60 seconds after the trade.
“With Mifid II implementation drawing closer, there is increasing pressure on firms to deploy automated solutions for trade reporting that can apply the rules correctly, to eliminate the possibility of over- or under-reporting,” says Richard Bentley, chief product officer at Ullink. “The changing APA landscape also focuses attention on centralized solutions which can process input from multiple front-office order management systems, across asset classes. The new Ullink Trade Reporting solution is a powerful addition to Ullink’s portfolio, aimed at alleviating the burden of new regulations for post-trade workflows.”
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