Paris and London, 2 January 2018 – Linedata (Euronext Paris: LIN), the global solutions and outsourcing services provider to the investment management and credit finance industries, today announced a partnership with London Stock Exchange Group’s UnaVista for transaction reporting requirements, as part of its ongoing drive to provide clients with market leading solutions compliant with the European Union’s Markets in Financial Directive II (MiFID II). Under 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.
MiFID II comes into force 3 January 2018 with the aim of bringing increased transparency and efficiency to financial markets and strengthening investor protection. Linedata’s partnership with UnaVista, an award-winning ARM, effectively addresses MiFID II transaction reporting obligations, underscoring its focus on providing clients with leading solutions to meet these critical regulatory requirements.
MiFID II includes a requirement that investment firms submit detailed transaction reports to their NCAs within one day of a transaction. Using Linedata’s reporting interface, clients can send in data from multiple sources; UnaVista then determines which transactions are reportable and to which competent authorities it must be sent. All trades involving financial instruments admitted to trading or traded on an EU trading venue are included.
“Partnering with UnaVista is one of many ways that Linedata is supporting our clients to simplify and streamline their investment processes under MiFID II,” said Arnaud Allmang, Global Co-head of Asset Management and Servicing at Linedata. “We are delighted to partner with UnaVista to provide our clients with the best possible transaction reporting solution.”
Wendy Collins, Managing Director, Global Strategic Partnerships at UnaVista, remarked, “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.”
With 20 years’ experience and 700+ clients in 50 countries, Linedata’s 1300 employees in 20 offices provide global humanized technology solutions and services for the asset management and credit industries that help its clients to evolve and to operate at the highest levels. Headquartered in France, Linedata achieved revenues of EUR 166.8 million in 2016 and is listed on Euronext Paris compartment B FR0004156297-LIN – Reuters LDSV.PA – Bloomberg LIN:FP.
UnaVista is LSEG's hosted technology platform, helping firms reduce operational and regulatory risk. The platform assists over 5,000 counterparties reporting in excess of 5 billion transactions annually with 60,000 users in 86 countries. UnaVista's Partner Programme brings together the world's leading financial services technology and consultancy firms to help the markets become more efficient and reduce operational and regulatory risk. Located in more than 200 cities around the world, UnaVista's partner ecosystem provides clients with a wide variety of options to comply with regulations across the globe such as MiFID II, Global Derivative Reporting, CAT, MAR and many more.