TORA, provider of the industry’s most advanced cloud-based order and execution management system (OEMS), today announced that it has joined the London Stock Exchange Group’s UnaVista Partner Programme to help clients meet the transaction reporting requirements of MiFID II.
When MiFID II comes into force in January 2018, buy-side firms will be required to submit transaction reports directly to the regulators or through Approved Reporting Mechanisms(ARMs). UnaVista is an ARM that can help firms comply with all reporting obligations, avoid reporting errors and assist in the analysis of over- and under-reporting.
As a UnaVista partner, TORA clients will have “plug and play” integration and comprehensive support for a regulatory reporting solution that will solve one of the most operationally demanding aspects of MiFID II. Integrating with UnaVista is one of many solutions and integrations that TORA is offering clients to help simplify and streamline their investment processes under the incoming MiFID II regime. Commenting on the development, Chris Jenkins, Managing Director of TORA, said: “The forthcoming regulatory changes in Europe mean that asset managers of all sizes will need to review their existing technology solutions with additional scrutiny. TORA is well positioned to assist these firms with advanced solutions.”
Wendy Collins, Global Head of Partnership at UnaVista stated: “The partnership will allow TORA’s clients to enjoy the benefits of TORA’s membership of the Partner Programme including access to the UnaVista MIFIR UAT environment and leading regulatory expertise. We are delighted to have TORA join the programme and look forward to helping their clients fully prepare for and comply with MiFID II.”
TORA is the leading global provider of advanced investment management technologies supporting the full trading lifecycle. With a full suite of SaaS-delivered execution, analytics and compliance tools, as well as order, portfolio and risk management capabilities, TORA's products are utilized by hundreds of the industry's leading hedge funds, asset managers, proprietary trading firms and sell-side trading desks globally. With headquarters in San Francisco, TORA has over 250 employees across offices in Jersey, Tokyo, Hong Kong, Singapore, Sydney and Cluj-Napoca. More information is available at www.tora.com.
UnaVista is LSEG's hosted technology platform, helping firms reduce operational and regulatory risk. The platform assists over 5,000 counterparties reporting in excess of 5 billion transactions annually with 60,000 users in 86 countries.
UnaVista's Partner Programme brings together the world's leading financial services technology and consultancy firms to help the markets become more efficient and reduce operational and regulatory risk. Located in more than 200 cities around the world, UnaVista's partner ecosystem provides clients with a wide variety of options to comply with regulations across the globe such as MiFID II, Global Derivative Reporting, CAT, MAR and many more.