Xtrakter Links Up CME Group For Derivatives Repository In Compliance With EMIR

Xtrakter, a global provider of capital markets data, Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term, exchange matching, and transaction reporting services has announced the launch of its new TRAX Repository Link (TRL) and joint-initiative with the CME Group European Trade Repository (CME ETR), according to a Xtrakter statement.

In particular, the TRL acts as a nexus for reporting operations in accordance with the parameters of the European Market Infrastructure Regulation (EMIR) compliant services – these services ultimately channel, translate, and transactions to the CME Group’s European Trade Repository. CME Group specializes in derivatives, clearing, forex, options, and commodities; and the partnership is part of a greater aim at providing the most comprehensive reporting service and transparency to brokers.

A Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met Read this Term between Two Organizations, Fostering Transparency

Ultimately, the EMIR regulation has its fingerprints all over this decision, which effectively bridges the two repositories together. Furthermore, the CME ETR can trace its genesis to a 2013 registration with the European Securities and Markets Authority (ESMA), which operates as an EMIR-certified component.

The TRL will effectively cover a plethora of asset classes constituting an extensive product suite – fixed credit and interest rates, equities, foreign exchange, derivatives and commodities are all included in this reporting service, and serve as a collective beacon for financial information across these classes.

February 12 EMIR Deadlines in Focus

According to Robert Urtheil, Chief Executive Officer at Xtrakter, in a recent statement, "Due to the impending February deadlines under EMIR, this is a crucial time to ensure that all OTC and listed derivatives are reported to an approved trade repository (TR). The launch of the TRAX Repository Link is an exciting expansion of Xtrakter's TRAX reporting capabilities, providing a full suite of reporting services. In light of CME Group's strong position in the derivatives markets, aligning with the CME European Trade Repository is consistent with our vision of providing efficient and technologically advanced reporting products for the European marketplace."

This move also serves as a prelude to the February 12, 2014 deadline for all derivatives trades and over-the-counter (OTC) trades, dictated by fresh EMIR and ESMA regulation. On the other side of the operation, Chief Executive Officer Daniel Corrigan at CME Group reiterated that, "We are pleased to be associated with Xtrakter on the launch of the TRAX Repository Link. It is a clever reporting solution built on the well-respected TRAX post-trade matching engine."