London Stock Exchange Group (LSE) has announced that UnaVista, its MiFID Approved Reporting Mechanism (ARM), has made user acceptance testing available for MiFIR transaction reporting 17 months ahead of schedule.
UnaVista is the LSE group’s global hosted platform for all matching, validation and reconciliation needs. It offers a range of business solutions through one interface designed to help firms become more efficient and reduce operational and regulatory risk across all asset classes.
As UnaVista is compatible with a wide range of industry data formats, clients can send in all their data from multiple sources. It can then determine which transactions are relevant and which competent authorities to send it to.
UnaVista will also be offering a delegated and assisted reporting model for firms who want to connect via their broker or technology partner.
Mark Husler, CEO UnaVista said:
This is a big step in the process for helping clients get ready in time for MiFIR Reporting go-live. We are delighted to have Credit Suisse as one of the first clients to start testing in UAT. We believe we have built an ARM that not only helps firms be completely compliant, but one where they can also use the information reported to improve their business processes.”
UnaVista has also developed functionality to assist firms with some of the more difficult aspects of MiFIR reporting such as the masking of personal data, the identification of LEI gaps and acquiring these LEI’s. It can also help firms to avoid “over” or “under” reporting by providing reference data and control services such as N-way reconciliations and independent field level data quality assurance.