Linedata, the solutions and outsourcing services provider, has announced a partnership with London Stock Exchange Group's UnaVista for transaction reporting requirements. The partnership will provide clients with solutions compliant with the European Union's Markets in Financial Directive 2 (MiFID 2).
The firms' mutual clients will use UnaVista as an Approved Reporting Mechanism (ARM) to report transactions to National Competent Authorities (NCAs) for all required asset classes.
MiFID 2 includes a requirement that investment firms submit detailed transaction reports to their NCAs within one day of a transaction. Using Linedata's reporting interface, clients can send in data from multiple sources; UnaVista then determines which transactions are reportable and to which competent authorities it must be sent. All trades involving financial instruments admitted to trading or traded on an EU trading venue are included.