Torstone Technology, provider of securities and derivatives processing software to financial markets, will connect to London Stock Exchange Group’s UnaVista Approved Reporting Mechanism (ARM).
The service will allow users of Torstone’s new InfernoRC (Regulatory Compliance) module to comply with the transaction reporting obligations of the Markets in Financial Instruments Regulation (MiFIR).
Inferno clients will be able to meet all of their transaction reporting requirements by sending data through Inferno and into UnaVista’s ARM. With UnaVista connected to all required National Competent Authorities (NCAs) in Europe, firms will be able to address all the reporting in one place.
A testing environment is now available from Torstone, allowing firms to get ahead before the MiFIR reporting go-live in January 2018.
Wendy Collins, Global Head of Partners at UnaVista said: “Partnering with other modern technology providers is key to providing a complete service to help financial institutions of all sizes and complexity to comply with the new regulatory framework.”
This latest announcement follows the news from October 2016 that Torstone had launched a standalone MiFIR module to satisfy the reporting requirements of the new regulation, which is set to include a much wider range of financial instruments and disclosure of additional mandatory data.
Brian Collings, CEO of Torstone Technology, commented: “We are excited to be partnering with UnaVista to help our clients comply with the reporting obligations of MiFIR. By using this service, clients can achieve efficient and cost-effective compliance and gain access to our qualified team of specialists who can assist them in the simplification of their reporting obligations to NCAs.”