FlexTrade’s Spark EMS adds reporting platform TRAction to ecosystem

Rick Steves

“As our client base grows rapidly, so do the options for pre and post-trade integrations that we can now offer via Spark’s robust, flexible APIs. It means clients have the agility to choose and deploy the best solutions – at speed – to suit their business requirements as they arise.”

Trade reporting solutions provider TRAction has integrated with FlexTrade Systems, a global leader in multi-asset execution and order management systems.

The partnership comes as regulators focus on data quality in reporting submissions and is designed to alleviate the operational burden of existing and incoming reporting requirements.

EMS Spark clients can now leverage TRAction for daily transaction reporting

With TRAction’s reporting platform now integrated with FlexTrade’s cloud-native EMS solution, Spark, the latter’s clients can quickly and seamlessly carry out their daily transaction reporting processes by enabling teams to automatically extract, convert, enrich and report their data through the TRAction platform in the appropriate format.

This approach, via direct feed, removes the need to manually pull together and send data meaning consistent data is processed and delivered, reducing errors and improving daily reporting quality.

TRAction offers its clients a range of pre-built integrations with trading platforms to help minimize the manual processes involved in their ever-growing daily reporting obligations, including new upcoming requirements such as the EMIR Refit, as well as the upcoming ASIC and MAS rewrites.

Spark EMS clients can use TRAction for EMIR, MiFIR, ASIC, MAS, and Canadian reporting and feed into TRAction’s Best Execution Monitor, which is designed to collect, analyse and compare a broad sample of transaction data (across all asset classes) against market reference data to create representative benchmarks that enable consistent and fair evaluation of trading performance.

TRAction’s latest integration with FlexTrade’s cloud-native EMS, Spark, is now live and in production, with the first joint client of TRAction and Spark EMS deploying the solution in recent weeks, the firm said.

“Can they connect to our current trading platform?”

Quinn Perrott, co-CEO, TRAction, commented: “With buy-side firms facing a large suite of changing regulatory obligations, it’s crucial to work with a partner who can alleviate the operational overhead they create. If you’re considering passing the burden of reporting to a delegated third party like TRAction, you’re probably wondering, “Can they connect to our current trading platform?” At TRAction, we understand that delegating your reporting should relieve your stress, not add to it. That’s why our team aims to integrate with as many platforms as possible, with FlexTrade’s Spark EMS being the latest example.”

Adi Prnjavorac, General Manager, Spark EMS, stated: “The new Spark-TRAction partnership is another important step to ensure our clients have access to the market-leading solutions they need to tackle the most pertinent challenges they face today – in this case, regulatory reporting. As our client base grows rapidly, so do the options for pre and post-trade integrations that we can now offer via Spark’s robust, flexible APIs. It means clients have the agility to choose and deploy the best solutions – at speed – to suit their business requirements as they arise.”

TRAction caters to over 400 firms across Europe, the UK, Australia, Singapore, and Canada and is a full service regulatory trade reporting business that provides:

  • Data extraction and conversion to the trade repository format
  • On-boarding and submission of trades to an approved trade repository or Approved Reporting Mechanism (ARM)
  • Understanding the trade reporting rules and how they practically apply for firms

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