Linedata, a provider of technology solutions to the investment management and credit finance industries, has forged partnership with London Stock Exchange’s UnaVista to offer its clients the European Union’s Markets in Financial Directive II (MiFID II) compliant platforms.
MiFID II, which is effective 3 January 2018, seeks to bring increased transparency and efficiency to financial markets and strengthen investor protection.
As per terms of the partnership, the firms’ mutual clients will use UnaVista as an approved reporting mechanism (ARM) to report transactions to National Competent Authorities (NCAs) for all required asset classes.
Under the MiFID II, investment firms will have to submit detailed transaction reports to their NCAs within one day of a transaction. Now, clients can send in data from multiple sources though Linedata’s reporting interface after which UnaVista determines which transactions are reportable and to which competent authorities it must be sent.
Linedata global co-head of asset management and servicing Arnaud Allmang said: “Partnering with UnaVista is one of many ways that Linedata is supporting our clients to simplify and streamline their investment processes under MiFID II. We are delighted to partner with UnaVista to provide our clients with the best possible transaction reporting solution.”
UnaVista managing director of global strategic partnerships Wendy Collins said: “Our partnership with Linedata will enable mutual clients to utilize leading technologies from both organizations to fulfil regulatory reporting in a timely and efficient way. UnaVista’s wealth of regulatory reporting experience will be key in helping Linedata’s clients automate workflows, and reduce regulatory and operational risk.”