REGIS-TR, the European Trade Repository, and Abide Financial, experts in regulatory reporting and one of only three commercial approved reporting mechanisms (ARM), today announced they have signed a business alliance to provide a MiFID FCA compliant reporting service to all REGIS-TR clients across Europe.
Under the terms of the agreement, the MiFID reporting service will be offered and contracted by REGIS-TR, and operated by Abide, providing a seamless client experience. REGIS-TR clients will benefit from access to Abide's enhanced service offerings, such as data extraction, transaction report reconciliation or tailored reporting should they need to use them.
The alliance also means Abide will provide a full EMIR reporting service using REGIS-TR's repository services. As such, Abide is capable of offering enhanced reporting services to clients, allowing them to benefit from a one stop shop for EMIR and MiFID reporting.
Chris Bates from Abide Financial commented: "This first in market agreement brings together Abide's award winning transaction reporting services with REGIS-TR's repository services, providing seamless end to end reporting for a Europe-wide client base. At a time when financial regulation across the region is becoming increasingly complicated this agreement provides a clear, compliant solution."
Nicolas Boatwright from REGIS-TR added: "Our objective is to provide the greatest array of reporting services across Europe and this agreement provides the perfect solution for those clients requiring dual MiFID and EMIR reporting capabilities. Abide's ARM status and their ability to tailor their services to our client's needs has been the foundation for this alliance. By bringing together our two organisations in this way we really have created a solution for our clients that is greater than the sum of its parts."