Traiana, the provider of pre-trade risk and post-trade processing solutions, has entered into a strategic alliance with Confisio Managed Services, a supplier of customised turnkey solutions to the financial services industry.
Traiana and Confisio will together provide a middleware trade reporting solution to Confisio clients in Cyprus ahead of the impending 12 February European Market Infrastructure Regulation (EMIR) deadline.
The TR Connect service is a middleware trade reporting solution to achieve accuracy and certainty of compliance for buy and sell side firms.
A delegated reporting infrastructure enables participants to keep trade repositories up to date across the trade lifecycle. The solution is designed to automate the challenges around unique trade identifier sharing and legal entity identifier generation/tagging and delegated reporting for EMIR compliance.
It offers participant connectivity with data mapping/enrichment and trade repository connectivity. The result is a matching/reconciliation service for vendor-delegated and single-sided trade reporting.
Christodoulos Papadopoulos, Confisio CEO, said: “Traiana allows us to fully deliver the requirements ... for EMIR reporting by giving us strong back-end capabilities and business foundation.”
Roy Saadon, co-founder of Traiana, added: “[Our] partnership with Confisio in Cyprus reflects our overall strategy to reach a broader range of clients across Europe to help them fulfill their new regulatory obligations. Confisio delivers a competitive and efficient solution for market participants that permits proper and timely EMIR reporting and we are very pleased to be working with them.”
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