TRAction Integrates Reporting Platform with FlexTrade’s EMS

<p>Sydney-headquartered TRAction, a provider of trade reporting solutions, has enhanced its service by integrating its reporting platform with <a href="https://www.financemagnates.com/tag/flextrade-systems/">FlexTrade Systems</a>’ Spark, a cloud-native EMS solution <a href="https://www.financemagnates.com/forex/news-nuggets-20-april-flownow-rebrands-deribits-zero-fee-crypto-trading/">previously known as FlexNOW</a>.
</p><p>A Partnership to Ease Regulatory Reporting
</p><p>The announcement today (Monday) detailed that the integration came as the regulators focused on daily data reporting and submission as well as aimed to remove the operational burden of existing and incoming reporting requirements.
</p><p>“With <a href="https://www.financemagnates.com/terms/b/buy-side/">buy-side</a> firms facing a large suite of changing regulatory <a href="https://www.financemagnates.com/terms/o/obligations/">obligations</a>, it’s crucial to work with a partner who can alleviate the operational overhead they create,” said Quinn Perrott, the Co-CEO at TRAction.
</p><p>With the integration, Spark EMS's clients can carry out their daily transaction reporting processes by enabling automatic extraction and conversion. The reporting will be done through the TRAction platform in the appropriate format, the announcement highlighted. <a href="https://www.financemagnates.com/tag/traction-fintech/">TRAction </a>allows EMIR, MiFIR, ASIC, MAS, and Canadian reporting.
</p><p>“If you’re considering passing the burden of reporting to a delegated third party like TRAction, you’re probably wondering, “Can they connect to our current trading platform?” At TRAction, we understand that delegating your reporting should relieve your stress, not add to it. That’s why our team aims to integrate with as many platforms as possible, with FlexTrade’s Spark EMS being the latest example,” Perrott added.
</p><p>‘Clients Have the Agility to Choose and Deploy the Best Solutions’
</p><p>Spark EMS clients will feed into TRAction’s Best Execution Monitor, which collects, analyses, and compares a broad sample of transaction data across all asset classes against market reference data, creating a representative benchmark for consistent and fair valuation of trading performance.
</p><p>“The new Spark-TRAction partnership is another important step to ensure our clients have access to the market-leading solutions they need to tackle the most pertinent challenges they face today – in this case, regulatory reporting. As our client base grows rapidly, so do the options for pre and post-trade integrations that we can now offer via Spark’s robust, flexible APIs,” Adi Prnjavorac, the General Manager at FlexTrade’s Spark EMS, said.
</p><p>“It means clients have the agility to choose and deploy the best solutions – at speed – to suit their business requirements as they arise.”
</p><p>Earlier this year, SIX and FlexTrade Systems joined up to integrate and provide global real-time market pricing and reference data from SIX into the Spark cloud-based EMS solution.
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This article was written by Arnab Shome at www.financemagnates.com.