TRAX to provide regulatory reporting for exchange-traded derivatives

4 December 2008

Xtrakter, the market utility, is pleased to announce that TRAX will facilitate the regulatory reporting of exchange traded derivatives (ETD) and other complex derivatives in accordance with the requirements of the Markets in Financial Instruments Directive (MiFID) in Q1 09.

The Committee of European Securities Regulators (CESR) requires firms to regulatory report derivatives to competent authorities throughout Europe in accordance with MiFID. By utilising Alternative Investment Identifier (AII) codes the TRAX community will be able to report ETDs and other complex derivatives via TRAX to the Financial Services Authority (FSA) of the United Kingdom in Q1 09 thus fulfilling their transaction reporting obligations.

"Many firms who are not members of the TRAX community are unaware of their legal obligation to report exchange-traded derivatives under MiFID. We have been working closely with our clients to ensure they are compliant and to provide them with a seamless solution to this matter," said Kevin Milne, Chief Executive of Xtrakter.

TRAX is the leading post-trade, pre-settlement, trade matching & regulatory confirmation system in use by the OTC market. TRAX has been operating successfully since 1989 and has over 200 hundred subscribers located globally. TRAX processes on average 1.5 million transactions daily.

TRAX is an Approved Reporting Mechanism (ARM) under MiFID and provides regulatory reporting to FSA (UK), AMF (France), AFM (Netherlands) and NBB (Belgium) on behalf of the TRAX community.

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