Trafigura will roll out the platform across multiple regulatory reporting regimes, including to address requirements under the Dodd-Frank Act, the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) and the European Market Infrastructure Regulation.
The firm will also use AxiomSL for submitting to multiple trade repositories, swap data repositories, and registered reporting mechanisms.
According to AxiomSL, the evolving regulatory regime means firms are looking for a more strategic and holistic approach to trade and transaction reporting.
Its reporting solution is designed to help firms meet their obligations while managing risk exposure across all business functions more transparently.
It is intended to provide flexibility in regulatory calculations and reporting, and to integrate easily with existing infrastructure.
AxiomSL will also provide threshold monitoring checks for Trafigura.
The commodity trader has offices in 36 countries, and focuses on advancing trade reliably, efficiently and responsibly.
Ed Royan, chief executive of AxiomSL in Europe, the Middle East and Africa, said: “We are extremely pleased to begin this relationship as the firm’s regulatory provider. As we continue to expand into the energy and commodities sector, we look forward to developing a great connection with Trafigura.”
“We are certain that AxiomSL’s data and process platform will give Trafigura the best means of ensuring that they meet all their global requirements in a timely and efficient manner."
Mike Wainwright, COO of Trafigura and a member of the firm’s management board, said: "Being responsible for the group’s profit and loss means that the decisions I make have to be the right ones. AxiomSL’s platform will provide Trafigura PTE Ltd with, what we believe is, the best system available to make the unforgiving regulatory process most efficient.”