Cappitech Launches MiFID II Suite of Technology for Transaction and Trade Reporting

“MiFID II is a massive overhaul of regulation that financial firms now have to comply with” says Ronen Kertis, CEO of Cappitech

Cappitech has extended its cross-regulation Transaction Reporting technology to support MiFID II reporting to ARMs

With less than nine month until MiFID II goes into effect on January 2018, European financial firms are scrambling to put into place processes to be compliant with the regulation. To help reduce the technology burden of creating and sending daily and real-time reports, financial technology firm, Cappitech, has extended capabilities of their Capptivate Regulation Reporting platform to support MiFID II.

Currently supporting EMIR, MiFID I and ASIC derivative reporting regulation, Capptivate is an end to end solution for automating trade reporting. Capptivate integrates with financial firms such as brokers, banks and asset managers to extract trade files automatically.

Information is then reformatted and injected with reference data to create compliant reports which are submitted to an Approved Reporting Mechanism (ARM) or Trade Repository (TR). Reported information is then able to be reviewed on Capptivate’s technology leading Reporting Dashboard.

With Cappitech’s new MiFID II support, customers are now be able to use Capptivate to automate the creation and submission of Transaction Reports directly to an ARM. Capptivate users are also able to leverage Cappitech’s relationships with ARMs to lower their per trade cost of submitting reports.

In addition to Transaction Reporting, new support for MiFID II includes:

  • GAAP Analysis: Consulting with MiFID II experts to learn what trades are under scope and what data is needed to create reports
  • APA Trade Reporting: Assisting of banks and brokers to an APA for real-time Trade Reporting
  • Security: Cappitech is a network member of Colt’s PrizmNet to support secure direct point to point connectivity of sending trade information and sensitive client details
  • Best Execution reports: Turn your Transaction Reporting data into powerful Best Execution reports to display execution results to customers and internal Risk Management uses
  • Operational support: Cappitech provides ongoing reviews of client MiFID II reports to ensure they are reported correctly
  • Cross-regulation: Capptivate customers can report multiple regulation reports from a single data integration

“MiFID II is a massive overhaul of regulation that financial firms now have to comply with” stated Ronen Kertis, CEO of Cappitech. “By supporting MiFID II requirements such as Transaction, Trade and Best Execution reporting, Cappitech believes we can help firms reduce their compliance headaches and lower their expected costs of handling the new regulation.”

With the launch of new services for MiFID II, financial firms can contact Cappitech to learn about pricing, onboarding specifications and security information. Clients can also start preparing for MiFID II by reporting trades in our user acceptance testing (UAT) environment.

Read this next

Executive Moves

Christine Kiener joins Saxo Markets UK as Head of Institutional Sales

“I have been very impressed by the strong track record, clear strategic pathway and ambition of the Saxo business. I am excited to start working with the team to further grow the institutional footprint which has been established in the UK.”

Industry News

CFTC charges Rathnakishore Giri with $12m Bitcoin ponzi scheme

“Identifying and policing fraud in these emerging markets may be difficult or delayed in light of the agency’s limited visibility in these markets”, said CFTC Commissioner Kristin Johnson.

Institutional FX

AbbeyCross raises $2.47m to develop FX market infrastructure for EM currencies

Many EM currencies are currently traded without full-price discovery, creating an unlimited compliance and regulatory risk.

Digital Assets

YouHodler enhances Multi HODL: faster rates and execution, lower fees

“We know some traders mentioned freezing issues when opening or closing a Multi HODL deal. Now, those problems are completely gone”.

Industry News

ASIC bans Funds United Pty director for six years

The six-year ban will prevent Ms. Hutchinson from controlling an entity that carries on a financial services business, and performing any function within the industry.

Inside View

Brave new world: Recruitment of fintech talent in the new UK immigration environment

In this article, solicitor Denise Osterwald outlines what UK businesses should do to attract top talent from abroad.

Digital Assets, Interviews

FX goes Crypto: Exclusive interview with BVNK’s Jonathan Cumberlidge

BVNK is the new name in the City of London. Co-founded by ex-TradFi Chris Harmse, Balfour Group founder Jesse Hamson-Struthers, and ex-TrueLayer George Davis, the firm provides a single platform to bridge fiat and crypto together. 

Digital Assets

AAX ranked world’s second largest spot exchange, only behind Binance

Crypto trading volumes experienced their first surge in activity since March as the majority of digital assets began their recovery from the recent grim price action, according to a new report by Cryptocompare.

Digital Assets

Bitpay teams up with Cardlytics to provide 15% cashback rewards

Crypto payment service provider Bitpay announced a partnership with Cardlytics Inc (NASDAQ:CDLX), which it says will offer more rewards for BitPay cardholders on its platform.