TORA opts for LSE’s reporting ahead of MiFID II

TORA has joined UnaVista partner programme to enable its clients to meet reporting requirements under MiFID II.

Order and execution management system provider TORA has joined the London Stock Exchange’s (LSE) UnaVista partner programme in a bid to ensure its clients meet reporting requirements under MiFID II.

As a UnaVista partner, TORA’s clients will be able to integrate the reporting service to simplify the investment process and guarantee MiFID II compliance.

UnaVista is an approved reporting mechanism (ARM), meaning firms can submit transaction reports directly and avoid reporting errors or over/under reporting.

Chris Jenkins, managing director of TORA, explained the regulatory changes in Europe mean “asset managers of all sizes will need to review their existing technology solutions with additional scrutiny”.

Wendy Collins, global head of partnership at UnaVista, added the partnership will see TORA’s clients benefit from its access to UnaVista’s MIFIR UAT environment and regulatory expertise.

More than 5,000 counterparties currently use UnaVista for the reporting of over five billion transactions annually with 60,000 users in 86 countries.