TECHNOLOGY

Trax integrates CME trade repositories

Integration aims to simplify trade transaction reporting under EMIR, MiFID and MiFID II.

By Hayley McDowell hayley.mcdowell@strategic-i.com April 19, 2017 9:15 AM GMT

Trax has integrated Chicago Mercantile Exchange’s (CME) global repository service into its platform to simplify regulatory reporting of derivatives.

The integration means users of Trax’s Insight reporting platform will gain access to G20 reports from the CME for all in-scope derivatives asset classes, including credit, interest rate, equity, commodity and FX derivatives.

Firms connecting to the platform will be able to satisfy trade transaction reporting requirements under EMIR, MiFID and MiFID II regulations.

Trax said the alliance with CME aims to provide full G20 coverage, including Dodd-Frank and other derivatives regulations around the globe.

Chris Smith, head of Trax, explained Trax and CME have a long history of building technology to improve post-trade operations.

“This relationship helps firms confidently meet their cross-regulation reporting obligations,” he added.

In February, Trax teamed up with Droit Financial to launch a tool to determine eligibility and reporting requirements under EMIR for derivatives.

Trax said the combination of both services will improve reporting efficiency and allow firms to comply with greater confidence