TRAction Fintech
| Private | |
| ISIN | 🆔 |
| Industry | Financial Services, Technology |
| Founded 📆 | 2015 |
| Founder 👔 | |
| Headquarters 🏙️ | Sydney, Australia |
Area served 🗺️ | |
Key people | Quinn Perrott (Co-founder & GM), Sophie Gerber (Co-founder & Director) |
| Services | Regulatory Trade Reporting |
| Members | |
Number of employees | 11 |
| 🌐 Website | tractionfintech.com |
| 📇 Address | |
| 📞 telephone | |
TRAction Fintech is a financial technology service provider specialising in regulatory transaction reporting. The company is headquartered in Sydney, Australia and also maintains offices in London, Singapore and Cyprus. It provides services as an intermediary between regulated brokers and licensed Derivative Trade Repositories/Approved Reporting Mechanisms.[1][2]
The company name is an abbreviation of Trade Repository Action Financial Technology.
History[edit]
TRAction Fintech was founded in 2015 by Sophie Gerber and Quinn Perrott. TRAction Fintech went live in December 2015 in the Australian Market and in February 2016 in the European markets.[3]
Services and Operation[edit]
TRAction Fintech provides data extraction, conversion and enrichment, specialist advisory services and reporting of its clients’ trades to a licensed trade repository or approved reporting mechanism in jurisdictions where this is a requirement of derivatives issuers and market participants.[4]
Markets[edit]
Australia[edit]
In 2013, the Australian Securities and Investments Commission (“ASIC”) brought new laws into effect requiring OTC derivatives (including forex and contracts-for-difference (“CFDs”)) to be reported to a licensed Australian Derivatives Trade Repository (“ADTR”).[5] In December 2015, the 3B phase of the Trade Reporting legislation (covering firms with less than AUD 50 billion in outstanding positions) came into effect. This phase of the legislation was when most retail Forex and CFD brokers commenced their trade reporting. TRAction Fintech went live on this date, reporting its clients’ trades to the first ADTR which was registered by ASIC, the Depository Trust & Clearing Corporation (“DTCC”).[6][7]
UK & Europe[edit]
In February 2016 TRAction opened offices in London to provide services to Brokers to assist in meeting their reporting obligations under the European Markets and Infrastructure Regulation (“EMIR”) reporting legislation.[8] On 1 November 2017, the revised Regulatory Technical Standards (“RTS”) and Implementing Technical Standards (“ITS”) were implemented, adding further requirements to EMIR reporting. On 3 January 2018, the second Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation (MiFIR) was implemented. MiFIR expands the reporting obligations for OTC derivatives.[9] TRAction Fintech provides delegated reporting services in respect of the EMIR revised RTS and MiFIR reporting regimes.[10][11]
Singapore[edit]
TRAction Fintech opened offices in Singapore in February 2016 to provide OTC derivative reporting services in respect of the Monetary Authority of Singapore (“MAS”) reporting regime.[12]
References[edit]
- ↑ "TRAction Fintech | OTC Trade Reporting | Forex Trade Reporting". Retrieved 2020-11-23.
- ↑ "Traction Fintech Launches Trade Reporting Services To Australian Forex & CFD Brokers". PRWeb. Retrieved 2020-11-23.
- ↑ "About TRAction | TRAction Fintech". Retrieved 2020-11-23.
- ↑ Barbara Andrews (2015-12-07). "TRAction launches trade reporting services to Aussie brokers". TheForexReview.com. Retrieved 2020-11-23.
- ↑ "Derivative trade repositories". Australian Securities and Investments Commission. Unknown parameter
|url-status=ignored (help) - ↑ "TRAction launches Trade Reporting services to Australian FX brokers". www.e-forex.net. Retrieved 2020-11-23.
- ↑ Barbara Andrews (2015-12-07). "TRAction launches trade reporting services to Aussie brokers". TheForexReview.com. Retrieved 2020-11-23.
- ↑ "Trade Repositories". www.esma.europa.eu. Retrieved 2020-11-23.
- ↑ "MiFID II Explained: Expanding from an Exchange-Centric Model | Finance Magnates". Finance Magnates | Financial and business news. 2017-11-24. Retrieved 2020-11-23.
- ↑ "TRAction Fintech integrates with oneZero for MiFID II and EMIR regulatory reporting solutions". LeapRate. December 2017. Unknown parameter
|url-status=ignored (help) - ↑ Pash, Chris (2018-03-23). "Australia's fintech startups are keen to exploit the new bridge agreement with the UK". Business Insider Australia. Retrieved 2020-11-23.
- ↑ "Traction Fintech Launches Trade Reporting Services To Australian Forex & CFD Brokers". PRWeb. Retrieved 2020-11-23.
Further Reading[edit]
- Pash, Chris (June 2018). "FINNIES: All the winners and finalists in Australia's 2018 fintech awards", 'Business Insider Australia'.
- Pash, Chris (June 2018). "Here’s a list of Australia’s best fintech companies for 2018", 'Stockhead'.
- Alois, JD (May 2018). "The 2018 Finnie Finalists from FinTech Australia", 'Crowdfund Insider'.
- Eyers, James (June 2018). "London fintech delegation reveals deeper Australia-UK tech links", 'Australian Financial Review'.
- Saks, Andrew (June 2018). "FinanceFeeds Cyprus FX Industry Seminar where important issues were discussed! – Full montage", 'Financefeeds'.
- Finextra (May 2018). "NSW fintech/cyber startups set sights on London", 'Finextra'.
- CME Group (November 2020). "CME Global Repository Partners", 'CME Group'.
- Sophie Grace (August 2015). "TRAction Fintech’s Solution for Australia’s OTC Derivative Reporting Rules". 'Sophie Grace'.
- Finberg, Ron (August 2015). [1] "Sneak Peek: TRAction Fintech and Australia's Coming Reporting Rules", 'Finance Magnates'.
- ISDA (2021). [2] 'TRAction Fintech'.
- Skinner, Celeste (July 2020). [3] "Exclusive: TRAction Fintech Integrates EU Reporting Services with UnaVista", 'Finance Magnates'.
- FIBC (2019). [4] "TRAction Fintech", 'FIBC'.
- Comparic Team (2019). [5] "TRAction Fintech", "Traction Fintech Launches Trade Reporting Services to UK CFD Brokers", 'Comparic.com'.
- Regulation Asia (2020). [6] "Regulation Asia Awards for Excellence 2020 – Results Announcement", 'Regulation Asia'.
- A-Team Insight (2020). [7] "TRAction Fintech Expands Alliance with UnaVista on Regulatory Reporting", 'A-Team Insight Briefs'.
- Financial Times (2021). [8] "FT ranking: Asia-Pacific High-Growth Companies", 'Special Report FT High-Growth Companies Asia-Pacific'.
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