Torstone Technology, a leading provider of securities and derivatives processing software to the global financial markets, today announced that it will connect to London Stock Exchange Group’s UnaVista Approved Reporting Mechanism (ARM). The service will allow users of Torstone’s new InfernoRC (Regulatory Compliance) module to comply with the transaction reporting obligations of the Markets in Financial Instruments Regulation (MiFIR).
Inferno clients will be able to fulfil all of their transaction reporting requirements by sending data through Inferno and into UnaVista’s ARM. UnaVista will be connected to all required National Competent Authorities (NCAs) in Europe so firms will be able to address all the reporting in one place.
Torstone are delighted to announce that the testing environment is now available, way ahead of the MiFIR reporting go-live 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.”
The service follows Torstone Technology’s announcement in October 2016 that it had launched a standalone MiFIR module to satisfy the reporting requirements of the Regulation, including the much wider range of financial instruments and disclosure of additional mandatory data.
Brian Collings, CEO of Torstone Technology, commented: “We are excited to be partnering with UnaVista to help our clients comply with the reporting obligations of MiFIR. 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.”