Firms currently reporting to both the UK and Dutch regulators will now be able to use UnaVista as a single point of reporting, helping create efficiencies across their business.

Already an Approved Reporting Mechanism (ARM) in the UK for all reportable asset classes, UnaVista is currently seeking transaction reporting approval from regulators across Europe. Once approved, UnaVista will replace the need for firms trading in multiple markets to build and maintain separate reporting systems for each regulator.
Mark Husler, Head of Business Development, Software and Data Solutions, said

"We are delighted UnaVista has been approved by AFM. Each European regulator has slightly different requirements, which can make it difficult for companies to know how to report transactions correctly. UnaVista will make life easier for firms by becoming a one-stop shop for their pan-European reporting, and replacing the need for firms to maintain separate interfaces. This will enable clients make significant efficiency savings and reduce the risk of being fined for incorrect reporting."

Firms are able to upload their data to UnaVista in all common formats; the system then validates it, converts it into the relevant format and submits the report to the regulator.

UnaVista uses additional validation above and beyond the regulatory requirements to ensure that firms are reporting correctly. Reference data such as CESR's list of regulated markets and MiFID's list of eligible securities are used to certify submitted data and highlight potential errors. Firms can use this information to then improve their reporting on an ongoing basis.