Euromoney TRADEDATA, the premier provider of exchange traded futures and options reference data, announces the launch of a new data service for organisations needing archive contract and symbology data to support regulatory investigations into historical transaction reporting.
MiFID I reporting introduced the Alternative Instrument Identifier (Aii) in November 2007 and it has been an essential component of compliant transaction reporting to date but it has been replaced under MiFID II with a series ISIN. Under market surveillance legislation a Competent Authority can investigate the transaction reporting records of firms up to seven years in arrears and can impose material fines based on their findings. Euromoney TRADEDATA has prepared a time series historical archive which includes all Aii exchange tradeable products from MiFID market start to the present day and associated contract attributes, market and vendor symbology used to easily identify past trades.
Commenting on the announcement, Mark Woolfenden, Managing Director of Euromoney TRADEDATA, said "From early post-crisis regulation to the present day, Euromoney TRADEDATA has carefully engineered and added attributes required by technical reporting standards and has secured the industry’s trust to become the go to provider for their regulatory reporting needs. The new Forensyx service will allow firms to re-boot the data available in its historical context to support any type of remedial analysis”.
Commenting on the new launch Gregg Whitbread, Business Development Director said “while the market has, quite rightly been preoccupied with MiFID ii in recent years, just because we are in a post MiFID i World, it does not mean that compliance with those regulations are no longer of concern. Regulators have signalled their intentions and stated “that there needs to be a line in the sand” and that they will “continue to take appropriate action against any firm that fails to meet requirements” and for large sell-side institutions whose transaction reporting has been found to be wanting, that can mean fines in the multi-millions. Whether reporting firms’ non-compliance is due to systems not fit for purpose, not adequately resourced or performing properly, or whether that is identified by internal audit, regulatory consultant audit or by an on the ground audit by the regulator itself, if you are without the data needed to comply then Forensyx should be your first stop!”
Euromoney TRADEDATA provides an aggregation service for the global exchange traded derivatives. Recognised as the specialists and innovators in the futures and options market, we are now aiming to become innovators in other asset markets. The up to date market data we provide is essential for accurate and timely settlement of trades without the additional overheads of collating, validating and maintaining in-house data.
We pride ourselves in being able to offer highly customised data feeds to integrate with any client application whether proprietary or vendor based. We supply instrument data for over 100,000 contracts on over 110+ exchanges and are the reference data solution of choice for the world’s top tier financial organisations, exchanges and regulators.