Under the partnership, Linedata will use UnaVista as an approved reporting mechanism to report transactions for all required asset classes.
Using Linedata’s reporting programme, clients can send in data from multiple sources.
UnaVista is facilitated by Linedata to determine which transactions are reportable and to which competent authorities each transaction must be sent—in accordance with the MiFID II one day transaction rule.
According to Linedata, the partnership effectively addresses MiFID II transaction reporting rules, by “providing clients with leading solutions to meet [these] critical regulatory requirements”.
Part of EU legislation, MiFID II regulates firms that provide any services to clients linked to financial instruments and venues where these instruments are traded.
Arnaud Allmang, global co-head of asset management and servicing at Linedata, said: “Partnering with UnaVista is one of many ways that Linedata is supporting our clients to simplify and streamline their investment processes under MiFID II.”
Wendy Collins, managing director of global strategic partnerships at UnaVista, commented: “Our partnership with Linedata will enable mutual clients to utilise leading technologies from both organisations to fulfil regulatory reporting in a timely and efficient way.”