With the deadline for MiFID II compliance just weeks away (3rd January 2018), London-based OSMO Partners and Hedgd have launched a new full service Approved Reporting Mechanism (ARM) offering to satisfy MiFID II Transaction Reporting obligations.
Under the partnership, OSMO Partners will provide the regulatory reporting operations to ensure that reporting obligations are met, while Hedgd will act as a post-trade aggregator to collect trading data, map identifiers and output the data to an ARM.
OSMO Partners provides outsourced front, middle and back-office services to investment management firms, covering the complete lifecycle of a trade from execution through to settlement. Hedgd specialises in enterprise grade cloud-based order and trade management software for financial institutions.
“OSMO is the perfect partner for Hedgd with the result being a fully serviced Transaction Reporting solution, which will resolve the challenges that many firms face with MiFID II getting ever closer,” said Oliver South, Co-founder and CEO of Hedgd. “The Hedgd data model was built with MiFID II in mind and, with Hedgd being a Software-as-a-Service application, this allows us to deploy to OSMO’s end clients seamlessly.”
Craig Wallis, Partner and Head of Trading at OSMO, commented: “Our clients need peace of mind at this challenging time that they can meet their regulatory reporting obligations in full. Therefore, it’s critical that we’re able to offer a full-service MiFID II Transaction Reporting function to our clients, alongside our other bespoke services. Hedgd is a natural partner for us because they are domain experts and the technology solution they provide simplifies the Transaction Reporting challenge. Hedgd provides the technology to successfully report to an ARM, whilst OSMO’s experienced operational team deal with all exception management.”
Hedgd’s technology gives firms full visibility over transactions throughout the trade lifecycle - even on the go via mobile devices - without the need for expensive infrastructure, as the system is all cloud-based with Azure.
MiFID II aims to protect investors and ensure transparency, so visibility in record keeping and reporting is essential. Hedgd’s robust design enables auditing for every event with time-stamping providing full visibility at the click of a button.
Hedgd’s technology is designed and built for the cloud, which means that there is no local hardware footprint and all the advantages of the cloud can be unlocked. True utilisation of the cloud allows for cost savings that are shared by clients.