Xtrakter to develop a European trade repository

London - 8 July 2010

Xtrakter, the premier provider of OTC post trade services and data to the capital markets is entering into consultation with members of its user community and other market representatives, to discuss the development of a European managed trade repository for all asset classes.

“Xtrakter has a long established history of operating a data repository and is already the leading source for OTC fixed income data in Europe. We currently provide a range of regulators, aggregators and end clients with trade matching, transaction reporting and data services...Given our position as a major reporting mechanism, the significant changes that will emerge following the current European Markets Infrastructure Regulation consultation, it is vitally important we consider in conjunction with members of our user community whether it is appropriate for us to develop a European managed trade repository.” said Yannic Weber, Chief Executive Officer, Xtrakter.

Under the Markets in Financial Instruments directive (MiFID), Xtrakter is an Approved Reporting Mechanism (ARM) to the: FSA (UK), AMF (France) & 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. In 2009 Xtrakter processed 578m transactions on behalf of its user community of which 106m were OTC derivative transactions. Xtrakter has been collecting and storing data on behalf of its user community and the market since 1985.

Jason Waight, Director, Product Management, Xtrakter commented “As Xtrakter has an established history in providing data, regulatory reporting services to the global capital markets and maintaining an existing data repository...it is perceived that this is a natural progression for our firm, some of our clients have already indicated their desire for a European managed trade repository.”

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