TORA Partners with London Stock Exchange Group's UnaVista for MiFID II Transaction Reporting
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TORA, provider of the industry’s most advanced cloud-based order and execution management system (OEMS), today announced that it has joined the London Stock Exchange Group’s UnaVista Partner Programme to help clients meet the transaction reporting requirements of MiFID II.
When MiFID II comes into force in January 2018, buy-side firms will be required to submit transaction reports directly to the regulators or through Approved Reporting Mechanisms(ARMs). UnaVista is an ARM that can help firms comply with all reporting obligations, avoid reporting errors and assist in the analysis of over- and under-reporting.
As a UnaVista partner, TORA clients will have “plug and play” integration and comprehensive support for a regulatory reporting solution that will solve one of the most operationally demanding aspects of MiFID II. Integrating with UnaVista is one of many solutions and integrations that TORA is offering clients to help simplify and streamline their investment processes under the incoming MiFID II regime. Commenting on the development, Chris Jenkins, Managing Director of TORA, said: “The forthcoming regulatory changes in Europe mean that asset managers of all sizes will need to review their existing technology solutions with additional scrutiny. TORA is well positioned to assist these firms with advanced solutions.”
Wendy Collins, Global Head of Partnership at UnaVista stated: “The partnership will allow TORA’s clients to enjoy the benefits of TORA’s membership of the Partner Programme including access to the UnaVista MIFIR UAT environment and leading regulatory expertise. We are delighted to have TORA join the programme and look forward to helping their clients fully prepare for and comply with MiFID II.”