SIX Swiss Trade has introduced that it has chosen UnaVista, the accepted reporting mechanism for MiFID and MiFID II from the London Inventory Trade Group Plc (LON:LSE), as its accomplice for transaction reporting for distant individuals.
SIX Swiss Trade will accomplice with LSEG to determine a hyperlink to
their UnaVista service to facilitate transaction reporting for merchandise admitted to buying and selling on SIX Swiss Trade for distant individuals. The service from UnaVista will enable distant individuals of SIX Swiss Trade to fulfil their reporting obligations underneath the Swiss Monetary Market Infrastructure Act (FMIA).
The FMIA enhanced the reporting obligations for securities sellers which required a revised service answer to be developed. The info UnaVista will present to the Reporting Workplace of SIX Swiss Trade will allow distant members to fulfil their reporting obligations in securities admitted to buying and selling on SIX Swiss Trade. Moreover it minimizes the necessity to duplicate reporting throughout jurisdictions and, by utilizing constant knowledge codecs, creates course of efficiencies.
SIX Swiss Trade distant individuals will profit from UnaVista’s well-established and confirmed regulatory reporting expertise. The versatile platform has been always evolving to deal with new obligations in varied monetary markets, and has received many awards within the course of, together with the most effective Regulatory Reporting Platform on the Operational Danger Awards in 2016. The partnership will be sure that SIX Swiss Trade distant individuals will be capable to maximize the economies of scale of utilizing UnaVista to fulfil their transaction reporting obligations.
Chris Landis, Division CEO SIX Swiss Trade:
We’re delighted to be partnering with London Inventory Trade Group to supply this service to our clients. The UnaVista platform enjoys a superb fame and gives our purchasers entry to a confirmed and environment friendly mechanism to satisfy regulatory obligations. This displays our ambition to repeatedly search helpful options which allow our purchasers to optimize enterprise alternatives in a cost-efficient and dependable means.
Mark Husler, CEO UnaVista, London Inventory Trade Group:
That is an thrilling alternative to collaborate with SIX Swiss Trade to assist create efficiencies for companies with world reporting obligations. It’s a testomony to how UnaVista’s versatile platform helps futureproof companies from new laws and adjustments to present laws.
SIX Swiss Trade is among the main exchanges in Europe. It distributes its personal vary of indices, together with Switzerland’s most vital blue-chip index SMI. SIX operates the infrastructure underpinning the Swiss monetary sector and gives a complete vary of providers all over the world within the fields of securities buying and selling and settlement, monetary data and fee transactions. The corporate is owned by its customers (roughly 130 banks of varied orientation and dimension). Its workforce of over four,000 staff and presence in 25 nations all through the world generated working earnings of CHF 1.eight billion and a Group internet revenue of CHF 221.1 million in 2016.
UnaVista is London Inventory Trade Group’s world platform for reference knowledge, reconciliation and regulatory reporting. UnaVista offers companies with a spread of options designed to cut back operational and regulatory threat by one interface. UnaVista assists hundreds of companies report in extra of 5 billion studies a yr for a number of world laws. The platform is an accepted reporting mechanism for MiFID (and shortly MiFID II), a regulated commerce repository for EMIR, and a routing engine for a number of different G20 by-product commerce reporting regimes and buy-side laws. UnaVista can even be helping companies with upcoming laws reminiscent of SFTR, Consolidated Audit Path (CAT) and offering surveillance alerts.