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Screenshot of a breaking news alert e-mail from Q2 2017
ThinkLiquidity today announced it has become a registered service provider with CME Group (NASDAQ: CME) to offer transaction reporting for brokers licensed under the Australian Securities Investments Commission (ASIC) to the CME Group ASIC licensed Australian Trade Repository (ATR).
ASIC Derivative Transaction Rules apply to all reporting entities if they are in scope, which includes licensed brokers. The entities are required to provide information about derivative transactions, or positions relating to derivative transactions to a licensed derivative trade repository. CME Group received its license in October 2015.
ThinkLiquidity’s new reporting solution facilitates an automated alternative for brokers to fulfill their reporting requirements and obligations. This includes certification and archiving of all reported transactions. ThinkLiquidity determined the ATR offering from CME Group to be streamlined, effective and efficient.
“By integrating with CME Group we immediately add value to our existing client base by reducing costs and resources spent fulfilling transaction reporting requirements. It also adds a compelling new service to our suite which will in turn drive new business. If you’re a broker operating in Australia you are required to report these trades, we can now take this reporting burden off your shoulders,” said Jeff Wilkins, Managing Director for ThinkLiquidity.
“CME Group is pleased to expand the reach of its Australian Trade Repository and work with ThinkLiquidity,” says Jonathan Thursby, Head of CME Global Repository Service. “Their expertise in regulatory and risk management for the retail broker community in Australia creates a perfect extension to helping with transaction reporting delivered in a seamless and efficient solution.”
According to the ASIC website, the objectives for transaction reporting are threefold:
- Provide a more transparent view of OTC transactions for the relevant authorities and the public
- Promote financial stability
- Help detect and prevent market abuse
“This was an easy business decision to make. Our business model has always been dedicated to transparency and operating in the best interest of our clients,” added Wilkins. ThinkLiquidity is a Grand Rapids, MI based risk management and technology firm that improves the efficiency and profitability of their global partners through world-class technology, proven risk management solutions, real-time analytics and comprehensive consulting services.