DataTracks MiFID II Reporting Solution

DataTracks has been quick off its marks to offer assistance to filers testing transaction reports for MiFID II/MiFIR compliance. With the new filing mandate just a few weeks away, regulators are opening up portals to accept test submissions. DataTracks is currently helping its clients to do a test filing of their MiFID II/MiFIR compliance report with their home regulators across Europe, including the UK, Ireland, the Netherlands, Luxembourg and Gibraltar. DataTracks is also getting ready to offer its MiFID II/MiFIR reporting solution for test filing in countries such as Malta and Romania.

The DataTracks MiFID II/MiFIR reporting software has been updated with the latest ESMA schema and is capable of generating a valid XML output that conforms to ESMA guidelines as well as jurisdictional specific requirements, such as naming conventions in the Business Application Header.

Pramodh Vittal, Vice-President for Product Design, observes that using MiFID II/MiFIR transaction reporting solution from DataTracks means filers can quickly capture their MiFID II/MiFIR regulated data and generate a validated report according to ESMA rules. DataTracks can also help clients with easy solutions to automate inputting of data, eliminating the need to adjust raw data daily for reporting purposes.

Pramodh adds, “After evaluating various solutions in the market, clients are adopting our solution due to user friendliness of the software, the ability to automate data entry and our expert guidance in generating the report.”

As well as the MiFID II/MiFIR reporting solution, DataTracks also offers reporting solutions for other European regulations such as AIFMD, CRD IV, FATCA/CRS, CbCR and Solvency II.