The London Stock Exchange (LSE) has received approval by Dutch regulator the Authority for Financial Markets (AFM) to provide transaction reporting services using UnaVista, its hosted matching, reconciliation and data integration offering.
AFM is the second European regulator to approve the service. Approval enables firms that are required to report their trading activity to the Dutch regulator to do so via UnaVista.
According to the LSE, the move is part of an ongoing effort to receive approval from European regulators to use UnaVista for transaction reporting across the continent.
In May, the exchange received approval by UK regulator the Financial Services Authority to operate as an approved reporting mechanism for all reportable asset classes.
Once it has received approval in multiple markets, firms that trade in those markets will be able to report transactions solely through UnaVista, instead of having to build and maintain separate reporting systems for each regulator. Firms can currently upload their data in all common formats to UnaVista, which validates and converts the data into the relevant format before submitting reports to the regulator.
“Each European regulator has slightly different requirements, which can make it difficult for companies to know how to report transactions correctly,” commented Mark Husler, head of business development, software and data solutions, LSE. “UnaVista will make life easier for firms by becoming a one-stop shop for their pan-European reporting, and replacing the need for firms to maintain separate interfaces. This will enable clients make significant efficiency savings and reduce the risk of being fined for incorrect reporting.”