NEX Regulatory Reporting approved by ESMA as a trade repository under EMIR
24 November 2017
London - NEX Regulatory Reporting announces today that NEX Abide Trade Repository AB has received approval from the European Securities and Markets Authority (ESMA) for its Swedish-based trade repository under the European Market Infrastructure Regulation (EMIR). The approval will allow NEX Regulatory Reporting to operate a trade repository for European derivatives trades.
Establishing the trade repository in Stockholm is an important step in NEX Regulatory Reporting’s preparations for its operations post Brexit. The trade repository will now be able to continue to operate effectively for its clients, irrespective of the outcome of the current Brexit negotiations.
The creation of a European trade repository further enhances NEX Regulatory Reporting’s role at the centre of EMIR reporting for its clients and provides them with end-to-end control and seamless data processing to meet their EMIR reporting requirements.
The NEX Regulatory Reporting trade repository has been built using cloud technology, via Amazon Web Services, providing increased security for customers and their data through continuous, automated backups, robust security policies and infrastructure to prevent, detect and recover from any cyber security attack. In addition, the use of cloud services allows for both scalability and cost effectiveness on an ongoing basis, allowing the service to expand as our clients require it.
Collin Coleman, CEO of NEX Regulatory Reporting, said: “Our goal is to provide a genuine end-to-end solution for our clients to meet all of their reporting requirements under EMIR, MiFID II and other international regimes. The launch of our trade repository is a further step in simplifying and managing our client’s reporting requirements across multiple regimes, while ensuring a uniform service is delivered.”
NEX Regulatory Reporting has provided EMIR services to its clients since the initial regime came into effect in February 2014, and processes roughly 20% of the average daily volume of all EMIR reportable transactions.
NEX Regulatory Reporting already operates an Approved Reporting Mechanism (ARM) for MiFID, a Registered Reporting Mechanism for REMIT and a hub for EMIR, and has received FCA approval as an ARM and an Approved Publication Arrangement (APA) for MiFID II.
For more information, visit nexregulatoryreporting.com/natr
Bryony Scragg, NEX
+44 (0) 20 7818 9689
Casey Sheets, NEX (US)
+1 917 246 2088
Michelle Gathercole, Argentus PR
+44 (0) 20 7397 2949
NEX REGULATORY REPORTING operates within NEX Optimisation, which helps clients simplify complexity and optimise resources. NEX Regulatory Reporting includes Abide Financial and Abide Financial DRSP, an FCA regulated entity. The platform introduces cost efficiencies, mitigates operational risk and provides regulatory reporting effectiveness. Through its multi-regime reporting hub, regulatory obligations are translated into future proof compliant solutions while its specialist advisory teams interpret the impact of evolving markets regulation relating to trade and transaction reporting. In addition to European regulatory environments (EMIR, MiFID/II, SFTR, REMIT), NEX Regulatory Reporting provides specialised reporting services for entities subject to international regulatory regimes such as Dodd-Frank, ASIC (Australia) and MAS (Singapore).
For more information, go to www.nexregulatoryreporting.com
NEX offers clients better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Clients use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world’s capital markets. NEX is headquartered in London with offices around the world. For more information, go to www.nex.com