Eze Software, a premier provider of investment technology, is growing its MiFID II trade reporting support by expanding its strategic collaboration with NEX Regulatory Reporting, a business area within NEX Group plc.
As an Approved Publication Arrangement (APA) provider, NEX Regulatory Reporting supports clients in their MiFID II obligation to publish pre- and post-trade data and reports as soon as possible after execution. The collaboration bolsters a continuously expanding roster of Eze Software’s MiFID II compliance offerings.
Under MiFID II, in a bid for improved transparency, ESMA requires investment firms to report trade data to APAs in near real-time; within one minute for equities, and 15 minutes for fixed income. NEX Regulatory Reporting will publish reports on trades on behalf of clients on its public website where the regulator can monitor that markets are fair.
Eze Software has a longstanding partnership with NEX Regulatory Reporting, which serves as the Approved Reporting Mechanism for transaction reporting for clients under the scope of MiFID II. Eze and NEX have 18 mutual clients. Eze supports standardized reports for the delivery of the 65 transaction data points required under ESMA specifications. Being able to choose the same provider for trade reporting will help Eze clients simplify workflows. Eze Software will soon have connectivity to three different APAs.
“In a post-MiFID II environment, we are focused on helping clients meet their regulatory requirements most efficiently. We’re excited to extend our collaboration with NEX Regulatory Reporting to cover trade reporting, and will continue to grow our partner community to provide more choice in reporting options that will work best within client workflows,” said Bill Neuman, Managing Director, Product & Engineering.
“The collaboration means Eze clients can consolidate their trade and transaction reporting with one provider and benefit from the operational efficiencies this brings,” said Collin Coleman, Head of NEX Regulatory Reporting.