AxiomSL Inks Deal with Trafigura, Deploying Trade Reporting Solutions Suite

AxiomSL, a provider of regulatory reporting, data, and 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 solutions, has had an element of its solutions suite adopted by commodities trading firm Trafigura PTE, which will see the integration of its platform for global trade and transaction reporting, per an AxiomSL statement.

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The new accord will see Trafigura deploy AxiomSL’s solution across a wide range of trade and transaction reporting channels, including Dodd-Frank, MAS, REMIT and EMIR, among others. The integration comes during a dramatic shift in the regulatory playing field, with venues trying to reconcile their future reporting Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term with existing policies.

Looking forward the next few months, the EMIR phase II is slated to come into effect in November, not to mention the impending countdown towards MiFID II in January 2018. Consequently, Trafigura PTE Ltd is seeking a more strategic and holistic approach to trade and transaction reporting ahead of these regulatory headwinds.

Moreover, AxiomSL will also be delivering other utilities to Trafigura, including threshold monitoring checks, i.e. its Clearing Threshold Calculations for non-financial counterparties under EMIR and De Minimis Threshold.

According to Ed Royan, Chief Executive, AxiomSL, EMEA, in a statement on the integration: “We are extremely pleased to begin this relationship as the firm’s regulatory provider. As we continue to expand in to 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.”

“Being responsible for the group’s P&L 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. AxiomSL was the only vendor that was able to provide all of our trade and transaction reporting needs, and we look forward to the partnership ahead of us,” explained Mike Wainwright, Chief Operating Officer and Trafigura Management Board member.