TraderEvolution integrated TRAction's regulatory reporting solution into its multi-asset trading platform, enabling brokers and financial firms to automate EMIR and MiFIR reporting directly from their trading infrastructure. The integration allows firms to extract transaction data from the platform and submit reports through TRAction's infrastructure, reducing manual intervention and helping firms comply with reporting obligations across the United Kingdom and Europe. The partnership addresses growing operational demands as European regulators continue raising data quality and transaction reporting standards, with EMIR Refit introducing significantly expanded reporting requirements since April 2024.
EMIR Refit Expands Reporting Requirements to 203 Data Fields
Transaction reporting requirements have expanded substantially under EMIR Refit, which came into force in April 2024. Firms now face approximately 203 reportable data fields, compared with 129 previously, alongside stricter reconciliation requirements between counterparties, mandatory use of ISO 20022 XML messaging and enhanced validation rules intended to improve supervisory data quality. ESMA has begun reviewing ways to simplify reporting over the long term through a "report once" framework spanning EMIR, MiFIR and SFTR, acknowledging that firms face substantial compliance costs under the current fragmented reporting environment.
TraderEvolution Platform Automates Data Extraction and Submission
The integration enables firms using TraderEvolution to extract transaction data directly from the platform and submit reports through TRAction's reporting infrastructure. The integration supports both EMIR derivatives reporting and MiFIR transaction reporting. TRAction serves more than 800 firms across Europe, the UK, Australia and Singapore for regulatory reporting, offering data extraction, trade repository submission, onboarding and ongoing reporting support.
The integration covers multiple asset classes including equities, options, futures, FX, CFDs, crypto and fixed income. By embedding TRAction into TraderEvolution's infrastructure, firms can automate data conversion and submission while reducing manual processing that often leads to reconciliation errors, rejected reports and higher compliance costs.
Quinn Perrott, Co-CEO of TRAction, said the integration is designed to simplify reporting while reducing the operational burden associated with compliance: "We're pleased to introduce our latest integration with TraderEvolution, designed to help firms streamline their EMIR and MiFIR reporting processes for increased efficiency. This collaboration reinforces our ongoing commitment to simplifying trade reporting through seamless, compliant solutions. By significantly reducing the operational burden associated with regulatory reporting, this integration allows firms to dedicate greater focus to their core services, reflecting TRAction's continued commitment to delivering efficient and scalable reporting solutions."
Roman Nalivayko, CEO of TraderEvolution Global, added that the integration extends the platform's value beyond execution by automating a significant post-trade function: "Partnering with TRAction allows us to extend the value of our platform by delivering a fully integrated, efficient trade reporting solution. This integration will be available to all electronic financial services companies which have the TraderEvolution Global platform as their core infrastructure, reinforcing our commitment toward constant innovation which benefits all brokerage companies. This integration means brokers need to spend significantly less time managing reporting obligations giving them more capacity to focus on core services."
RegTech Integration Reflects Shift Toward Embedded Compliance Solutions
The integration reflects a shift in capital markets technology, as brokers increasingly expect reporting, surveillance, risk management and connectivity to be embedded directly into their core trading platforms. Vendors that can offer integrated infrastructure reduce operational complexity while allowing clients to adapt more quickly as reporting rules evolve.
ESMA outlined plans to simplify transaction reporting by reducing duplicated reporting obligations and eventually introducing a single "report once" framework covering EMIR, MiFIR and SFTR. Regulators have stressed that improving data quality remains a priority, meaning firms must continue investing in reporting technology despite the prospect of future simplification.
TraderEvolution's modular platform supports brokers, banks and proprietary trading firms across multiple asset classes through white-label and on-premise deployments. Adding native regulatory reporting expands its infrastructure offering as brokers increasingly seek integrated technology stacks instead of stitching together multiple third-party systems.
FAQ
What did TraderEvolution integrate with TRAction?
TraderEvolution integrated TRAction's regulatory reporting solution into its multi-asset trading platform, enabling automated EMIR and MiFIR reporting directly from trading infrastructure. The integration allows firms to extract transaction data from the platform and submit reports through TRAction's infrastructure, reducing manual intervention.
How many data fields does EMIR Refit require firms to report?
EMIR Refit, which came into force in April 2024, requires firms to report approximately 203 reportable data fields, compared with 129 previously. The regulation also introduced stricter reconciliation requirements between counterparties, mandatory use of ISO 20022 XML messaging and enhanced validation rules.
How many firms use TRAction's regulatory reporting services?
More than 800 firms across Europe, the UK, Australia and Singapore use TRAction's services for regulatory reporting. TRAction's offering includes data extraction, trade repository submission, onboarding and ongoing reporting support for banks, brokers, investment managers and financial firms.
