Through the partnership, users of the Torstone Inferno Regulatory Compliance technology will have their data sent through Inferno to UnaVista’s ARM, which is connected to all the required National Competent Authorities in Europe. This should allow firms to address all of their reporting obligations for MiFIR in one place.
A testing environment for MiFIR reporting is already up and running, ahead of the regulation’s go-live date in January 2018.
Wendy Collins, global head of partners at UnaVista, said: “Partnering with other modern technology providers is key to providing a complete service to help financial institutions of all sizes and complexity to comply with the new regulatory framework.”
Brian Collings, CEO of Torstone Technology, added: “By using this service, clients can achieve efficient and cost-effective compliance and gain access to our qualified team of specialists who can assist them in the simplification of their reporting obligations to NCAs.”
This announcement comes after Torstone launched a standalone module to help clients cope with the reporting requirements of MiFIR, including financial instruments and disclosure of additional mandatory data.