Although the European Commission has extended, by one year, the implementation of MiFID II, client firms want to road test compliance solutions well in advance and sink all related investment to achieve that sooner rather than later to avoid cost overruns typically experienced by market delay.

The addition of this first phase MiFID II capability further extends its compliance product suite and as further interpretations of MiFID II data requirements become clearer, Euromoney TRADEDATA will work closely with clients and industry bodies to provide a full service solution for regulatory reporting. The MiFID II upgrade will complement its existing solutions for MiFID I, EMIR (level 1 and level 2), ACER REMIT and CFTC covering transaction reporting of exchange traded derivatives on European Exchanges allowing for accurate reporting of traded positions via ARMs or directly to the FCA.

Mark Woolfenden, Managing Director at Euromoney TRADEDATA said: “Euromoney TRADEDATA has for many years provided mandatory transaction data for exchange listed futures and options to both regulatory and UK regulated parties. The addition of the MiFID II instrument attributes offer a robust solution to all participants trading in the EU charged with delivering regulatory compliance for futures and options. With large regulatory compliance budgets already threatening profitability and diverting investment from risk systems and winning new clients, the early implementation of effective compliance solutions will free up resources from what has been, for many years, a huge burden for firms of all sizes.”

Gregg Whitbread, Global Head of Business Development for Euromoney TRADEDATA said: “For more than two decades Euromoney TRADEDATA has developed and delivered innovative solutions that solve industry problems and assist market participants with the operational challenges they encounter each business day in an ever increasing regulatory environment. Engaging closely and collaboratively with regulatory bodies, transaction reporting intermediaries sell side and buy side financial institutions, Euromoney TRADEDATA has become the de facto Golden Source of regulatory reporting solutions for the Global futures and options community.”