Traiana Partners Confisio for Cypriot Emir Reporting
The TRConnect service acts as a middleware product for firms on the buy and sell sides, allowing trade repositories, which receive the reports, to be updated across a transaction lifecycle.
"I am excited about this partnership with Traiana," says Christodoulos Papadopoulos, CEO at Confisio. "It is confirmation that we will always conduct our business in a way that not only meets but exceeds the expectations of both our customers and business partners. Traiana allows us to fully deliver the requirements set by the European Securities and Markets Authority (Esma) for Emir reporting by giving us strong back-end capabilities and business foundation. We look forward to further expanding our pre and post trade collaboration in the future."
The technical implementation of Emir by Esma calls for firms to report all covered transactions from February 12 onwards, in an attempt to enhance market transparency. Firms will report trades to trade repositories, either themselves or through suitable delegation to vendors or asset servicers, although they remain responsible for the accuracy of the reports.
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