FSA approves Xtrakter for the regulatory reporting of derivatives
26 January 2010
Xtrakter, the market utility, is pleased to announce that the Financial Services Authority (FSA) of the United Kingdom has approved it to regulatory report exchange traded derivatives (ETD) using Alternative Instrument Identifiers (Aii).
The new Aii approval was awarded to Xtrakter after it successfully completed an FSA review and a period of extensive testing. As an Approved Reporting Mechanism (ARM) Xtrakter will continue to adhere to the requirements of Directive 2004/39/EC of the European Parliament and of the Council 21, April 2004 Markets in Financial Instruments Directive (MiFID).
Yannic Weber, Chief Executive Officer, Xtrakter commented: “We are pleased to have obtained FSA approval for our new Aii reporting service. This endorsement reinforces our position as a regulatory reporting hub for European transactions. Xtrakter delivered its new Aii reporting functionality on time and we are already processing complex derivative reports. I would like to take this opportunity to thank all those who were involved in making this possible.”
Xtrakter is an Approved Reporting Mechanism (ARM) under MiFID and provides regulatory reporting to FSA (UK), AMF (France) and AFM (Netherlands). Xtrakter additionally provides primary dealers with an onward reporting facility to the National Bank of Belgium (NBB) in accordance with the NBB and Securities Regulation Fund requirements.