Map S.Platis announces more than 1 million trades reported in the first 10 days of EMIR

The reporting deadline that has been set by the ESMA was on the 12th of February

LeapRate exclusive: Since the first EMIR reporting deadline set by the ESMA which was on the 12th of February, members of MAP-ERS have started reporting to Trade Repositories in an uninterrupted fashion and right on time. During the first 10 days the company states that more than 1,000,000 transactions have been reported by banks and investment firms from the UK, Ireland, Cyprus, Estonia, Bulgaria and Poland.

One of Europe’s leading financial services consultants, Map S.Platis has launched its platform MAP-ERS that ensures convenient access, fast processing and enhanced security when handling the data provided by regulated companies. For those companies who still haven’t found a reporting solution and have already missed the deadline set by the ESMA, there is still the option to sign up for more information and implement the new set of regulatory requirements on our EMIR reporting solution page.

According to the company’s Managing Director Stelios Platis the successful implementation of the firm’s solution is due to months of appropriate planning and preparation. He explains how the accounts were connected to reporting Trade Repositories well before the final deadline and a trial period has been conducted to ensure that all customers have proper access and know how to use the platform to file their reports.

Mr Platis proceeded to explain that the MAP-ERS platform executes a fully automated error-validation on the files that are submitted by members and provides detailed feedback if it identifies any inconsistencies. If you would like more information, or to be contacted by a member of MAP S.Platis about EMIR and their MAP-ERS solution, please email us or enter your contact info here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

Read Also: