Spotware taps TRAction to allow cTrader brokers to streamline daily transaction reports
“When it comes to our brokers, we fully acknowledge the importance of reporting. This is exactly why we are happy to provide our Reporting API to all clients free of charge. We also remain open to integrations and development work with other solution providers like TRAction that help make brokerage operations more convenient.”
Regulatory reporting specialists, TRAction, and multi-asset forex and CFD trading systems frontrunner, cTrader, unveiled a newly minted integration between their respective platforms.
This union, which centers on TRAction’s reporting infrastructure and Spotware’s cTrader interface, comes on the heels of an increased regulatory focus on the veracity of data.
Spotware provides Reporting API to all brokers without charge
Aimed at refining the reporting workflow and enhancing the precision of data submissions, this collaboration is designed to help ease the operational weight of present and imminent reporting mandates.
cTrader, under the Spotware umbrella, has consistently prioritized transaction reporting for its clientele, understanding the weight of regulatory adherence for brokers to preserve their licenses.
Spotware’s Reporting API captures and dispatches raw trading data, and with the TRAction alliance, brokers utilizing cTrader can autonomously produce regulatory reports rooted in their native system data.
Recognized for simplifying compliance for asset managers, TRAction has curated an array of integrations with trading interfaces to truncate the manual undertakings associated with burgeoning daily report obligations. Notably, these include incoming frameworks like the EMIR Refit and anticipated revisions from ASIC and MAS.
Owing to this synergy, companies leveraging the cTrader interface can now streamline their daily transaction reports. This will allow TRAction to autonomously glean, transmute, augment, and present their data aptly, doing away with manual data acquisition and amplifying report quality. TRAction’s fusion with cTrader, a Spotware offering, has been inaugurated, with an inaugural client onboarded recently. Existing clients, too, can opt for this integration, whether they currently deploy cTrader or envisage its adoption.
Quinn Perrott, co-CEO, TRAction, commented: “To meet regulatory obligations, it is now crucial for firms to work with specialised technology partners to share the burden of implementing complex requirements. If you’re considering outsourcing your transaction reporting to TRAction, you may be wondering if they can integrate with your trading platform. At TRAction, we understand that delegating your transaction reporting should relieve your stress, not add to it. TRAction works to integrate with as many platforms as possible, including Spotware’s cTrader.”
Spotware’s CEO, Ilia Iarovitcyn, stated: “When it comes to our brokers, we fully acknowledge the importance of reporting. This is exactly why we are happy to provide our Reporting API to all clients free of charge. We also remain open to integrations and development work with other solution providers like TRAction that help make brokerage operations more convenient.”
TRAction boasts a clientele of over 400 firms spanning Europe, the UK, Australia, Singapore, and Canada. The company provides an array of services, from data extraction and conversion to onboarding trades to a certified trade repository or ARM, and elucidating the practical application of trade reporting guidelines.
Spotware’s flagship product, cTrader, is an STP/ECN trading interface that serves over 4 million traders and more than 100 brokers globally. cTrader is also an Open Trading PlatformTM, inviting developers to craft bespoke applications.