Trax launches regulatory rules engine ahead of MiFID II

Trax adds to suite of regulatory tools with launch of Insight+.

MarketAxess’ Trax service has launched a regulatory rules engine to help firms keep on top of their reporting requirements under MiFID II.

The Insight+ tool streamlines processes by managing buy- and sell-side firms’ transaction flow to support exception management.

It provides users with connectivity to transparency and report services, systematic internaliser determination and reference data reporting.

Chris Smith, head of Trax and operation services at MarketAxess, explained the firm’s MiFID II trade and transaction tools are a “step ahead of market demand.”

“Insight+ offers complete operational workflow management to best support the needs of all market participants,” he said.

In October this year, MarketAxess was amongst several fixed income trading venues that formed a lobby group aimed at representing the interests of electronic bond markets, in response to MiFID II regulation.

The Electronic Debt Markets Association Europe set out principles to guide its activity, which include ensuring open access and fair, transparent markets, diversity of electronic trading protocols and equivalent regulatory treatment of all electronic trading platforms.