Abide Financial selected by XTX Markets for FX regulatory reporting

Regulatory reporting specialist Abide Financial has announced that it has been appointed by XTX Markets to manage compliance with multi-asset, multi-regime transaction reporting obligations.

Abide Financial will be the managed service reporting partner to XTX Markets for transaction reporting across multiple asset classes to satisfy transaction reporting obligations under EMIR, MIFID/MIFIR, SFTR and other regulatory regimes.

XTX Markets, ranked recently in the top three eFX Spot liquidity providers globally (by market share) in the prestigious Euromoney FX Rankings (and the only non-bank to be ranked amongst the top ten FX liquidity providers overall), partners with counterparties, exchanges and e-trading venues globally to provide liquidity in Equity, FX, Fixed Income and Commodities markets.

Mike Irwin, Chief Operating Officer, XTX Markets said:

We appointed Abide Financial as our reporting partner because of its specialised focus on transaction reporting.  Abide doesn’t just provide a transaction processing conduit but a fully managed and end-to-end solution.  Its strategy to own the complete reporting lifecycle (as an ARM and TR) was also a key differentiator in our decision-making process.

Chris Bates, Founder and CCO, Abide Financial said:

We are delighted to be XTX Markets’ reporting partner and to deliver a transaction reporting service that will provide complete peace of mind, allowing them to focus on their core business, rather than this particular part of the regulation.  XTX Markets wants a holistic approach to reporting and Abide’s multi-regime reporting services provides just that.

Abide recently received an investment from ICAP’s Euclid Opportunities, ICAP’s early stage funding program which supports innovative financial technology firms in the areas of post-trade risk management, data and financial market applications. More on Abide Financial’s regulatory reporting solutions can be found on its website.

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