LONDON, Jan. 20, 2014 (GLOBE NEWSWIRE) -- Xtrakter Ltd., the leading provider of trade matching and regulatory reporting services to the global securities market announces the launch of the TRAX Repository Link (TRL) in a strategic alliance with the CME European Trade Repository (CME ETR).
The TRAX Repository Link is a single point of entry for reporting firms, providing EMIR-compliant technology to route, translate and validate derivative transactions to CME Group's European Trade Repository. The CME European Trade Repository will then store the reported transactions and, if need be, pair across other approved trade repositories in accordance with the requirements of EMIR. The CME ETR was registered in November 2013 by ESMA to operate as a trade repository under EMIR.
The TRAX Repository Link, an extension of the industry leading and MiFID-compliant transaction reporting and post-trade matching engine, TRAX, covers all derivative asset classes including: credit, interest rate, equity, commodity and foreign exchange derivatives. A file containing a mix of these derivative asset classes is then processed by TRL and delivered to CME ETR for final reporting. TRL facilitates direct and "delegate" reporting.
Under the European Market Infrastructure Regulation (EMIR), as directed by the European Securities and Markets Authority (ESMA), all over-the-counter (OTC) and listed derivative trades will be required to be reported to a registered trade repository as of 12 February 2014.
Robert Urtheil, Chief Executive Officer of Xtrakter, said: "Due to the impending February deadlines under EMIR, this is a crucial time to ensure that all OTC and listed derivatives are reported to an approved trade repository (TR). The launch of the TRAX Repository Link is an exciting expansion of Xtrakter's TRAX reporting capabilities, providing a full suite of reporting services. In light of CME Group's strong position in the derivatives markets, aligning with the CME European Trade Repository is consistent with our vision of providing efficient and technologically advanced reporting products for the European marketplace."
Daniel Corrigan, Chief Executive Office of the CME European Trade Repository, added: "We are pleased to be associated with Xtrakter on the launch of the TRAX Repository Link. It is a clever reporting solution built on the well-respected TRAX post-trade matching engine."
Xtrakter is a leading provider of capital market data, trade matching and regulatory reporting services to the global securities market. In 2012 Xtrakter processed 1.19 billion of transactions on behalf of its user community. Xtrakter provides capital market firms with information to assist them in conducting net asset valuations, mark-to-market calculations, fixed-income portfolio mapping, liquidity and volume modeling, as well as reference data population updates. It also provides a wide range of pricing data for approximately 53,000 international securities and internationally traded government bonds, as well as securities reference data for over 300,000 government bonds, corporate bonds, medium-term notes and private derivative issues. Xtrakter is the operator of TRAX, a leading trade matching and reporting system.
Xtrakter is based in London and was originally established in 1985. Acquired by MarketAxess in 2013, Xtrakter is a wholly owned subsidiary of MarketAxess Holdings, Inc. For more information, please visit www.xtrakter.com.
Source:MarketAxess Holdings, Inc.