ICAP Chooses Unavista for Transaction Reporting

13 July 2010

The London Stock Exchange announced today that ICAP has selected the UnaVista platform as its transaction reporting ARM.
The inter-deal broker will use UnaVista to report transactions to the FSA across all reportable asset classes, benefiting from the rich feature set UnaVista provides almost immediately, as the product is securely hosted at the London Stock Exchange and requires no local installation.

David Lester, Director of Information Services at London Stock Exchange Group, said:
"It is crucial firms have confidence in the accuracy and efficiency of their transaction reporting. The additional validation UnaVista provides, above and beyond FSA requirements can help reduce the risks and costs associated with incorrect, late or duplicate reporting. With UnaVista's trend analysis features, firms are able to significantly improve the accuracy and consistency of their reporting."

UnaVista's extra validation is designed to help clients reduce the risk of incurring fines or unnecessary costs by under- or over-reporting. Exceptions are highlighted before submission to the FSA by data checking against a range of reference data sources including CESR's list of regulated markets and MiFID eligible securities. Each report has a full audit trail allowing companies to use trend analysis to review where there are recurring issues.

UnaVista is the London Stock Exchange's secure hosted platform for all validation, matching and reconciliation needs. UnaVista offers a number of solutions including Transaction Reporting, Post Trade Confirmations, Reconciliation, and Reference Data Management.

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