Qomply has partnered with Euronext to deliver a new transaction reporting service, utilising Euronext’s approved reporting mechanism (ARM) for timely delivery of transaction data to the regulator. The service controls when, and if, trades are sent to the ARM.
According to Qomply and Euronext, by linking services, the companies will be able to provide their clients with a solution that reduces cost and eradicates the complications that often come with the integration of separate solutions.
In 2017, the rollout of approved publication arrangements (APAs) and ARMs was at its inception, with many market participants scrambling to secure services in time for the second Markets’ in Financial Instruments (MiFID II) January 2018 deadline.
Three years on, the services of APAs and ARMs have matured and competitive pricing models have emerged. If there is a way to reduce ongoing fees, especially for third party arrangements, firms should seek out these avenues, says Qomply.
Michelle Zak, co-founder of Qomply says: “Euronext is a world leader in global financial markets infrastructure and we are pleased to join them as a connectivity partner as we build an efficient system for meeting regulatory requirements.”
Georges Lauchard, COO of Euronext, comments: “We are delighted to establish a partnership with Qomply to offer market participants an efficient and reliable Markets’ in Financial Instruments Regulation (MiFIR) reporting partnership. Together, we will create value for investment firms that are looking for simple, reliable, and cost-effective data driven solutions – and delivered with the confidence that comes from the leading pan-European market infrastructure.”
