March 25, 2017 10:36 AM ET

Capital Markets

Company Overview of Xtrakter Limited

Company Overview

Xtrakter Limited, doing business as Trax, offers capital markets data systems and services to the securities market in the United Kingdom. The company’s systems and services include post-trade and pre-settlement matching in various instruments, including bonds, equities, and derivatives (CFD’s, futures, and options); and risk mitigation by providing access to a system of transaction matching and verification with various counterparties in debt, equity, and derivative instruments. Its systems and services also include information on mark to market valuation, buyside information, net asset valuation, pricing, fixed income index, reference data (securities database), and retail investor bond pr...

5 Aldermanbury Square

London,  EC2V 7HR

United Kingdom

Founded in 1985

Phone:

44 20 3655 3500

Fax:

44 20 7600 9521

Key Executives for Xtrakter Limited

Executive President
Director of Commercial Operations
Director of Product Management
Compensation as of Fiscal Year 2016.

Xtrakter Limited Key Developments

Trax Launches Insight+ Comprehensive MiFID and EMIR Regulatory Rules Engine

Trax has launched Insight+, a comprehensive regulatory rules engine allowing firms to efficiently control their reporting responsibilities under MiFID/MiFIR and EMIR regulatory regimes. In light of increased compliance and regulatory burdens on the market, including vast data requirements, Insight+ offers even greater confidence and convenience for Trax clients to meet their regulatory and risk management obligations. Insight+ streamlines operational processes by managing buy- and sell-side firms’ complete raw transaction flow with accurate instrument eligibility and reference data enrichment.  Through each component of the Trax Insight™ regulatory reporting product suite, including the Transparency (pre- and post-trade transparency/trade reporting) and Report (transaction reporting) services, Insight+ offers an enhanced solution to support exception management.  Insight+ also integrates Trax’s full range of MiFID II tools to support testing for impending Approved Reporting Mechanism (ARM) transaction reporting and Approved Publication Arrangement (APA) pre-trade transparency and trade reporting obligations. Insight+ leverages Trax’s decades of industry knowledge and quality data management experience, offering a range of enhancements on the existing Trax Insight suite include individual connectivity to Transparency and Report services; a dynamic web-based operational interface, including reporting flow monitoring and management, alerting and search functions, reconciliation of transaction reports across counterparties; and transparency rules engine and deferral/waiver management. Insight+ offers comprehensive connectivity to Transparency and Report services by managing raw transaction data, systematic Internaliser (SI) determination and reference data reporting services, cross population and reconciliation of data for trade and transaction reports, storage and enrichment of reporting field data, customisable reporting rules and bespoke validation parameters, management information: industry analytics and peer benchmarking, and Trax MiFID List, near real-time MiFID instrument eligibility and reference data service. In addition to offering the ability to manage raw transaction data feeds, Insight+ includes data management capabilities and near real-time reference data tools.  Based on a cross-asset class reference database of over five million securities, the Trax MiFID List [2], launched in September 2016, comes standard with Insight+ and allows firms to overcome the regulatory challenge of correctly identifying MiFID reportable instruments for MiFID I and an early indication of MiFID II eligibility. Insight+ also enables the secure storage and enrichment of reporting field data, including instrument and natural person data. Trax Insight features a customisable, web-based operational tool to actively manage and monitor the status of reporting activity through a single interface. Clients can quickly identify exceptions and data quality issues as well as view analytics and peer benchmarking reports. Leveraging system architecture, Trax Insight offers flexible integration by supporting multiple communication channels and message formats with links to various OMS systems.

Trax Launches Comprehensive MiFID Instrument Reference Data Service

Trax has launched a comprehensive MiFID instrument reference data service (‘Trax MiFID List’) to help firms overcome the regulatory challenge of correctly identifying reportable instruments. The service provides a comprehensive view on MiFID I reportable instruments and an early indication of MiFID II eligibility. An accurate and reliable data source has been a headache for firms under MiFID I and will be an even greater challenge under MiFID II. The obligation to report under MiFID II will capture a far greater number of market participants, including both buy- and sell-side firms, while also tripling the required reporting fields and considerably broadening the scope of instruments1. Thus, the advent of MiFID II significantly increases the operational complexity for market participants to accurately manage their reporting processes. Providing a complete reporting solution, Trax is working with its clients to integrate this value-add service into the Trax regulatory reporting solution, helping to ensure firms comply with confidence. Inputs to the reference data service include intra-day feeds from data vendors, exchanges, national numbering agencies and issuers, which are cross checked with the ESMA MiFID database. The launch of the Trax MiFID List complements a suite of pre-MiFID II tools for transaction and trade reporting. The proprietary Trax Approved Reporting Mechanism (ARM) validation engine for MiFID II transaction reporting was launched in December 2015, followed by the April 2016 launch of the MiFID II Approved Publication Arrangement (APA) trade reporting (pre- and post-trade transparency) validation engine. Both services, in conjunction with the Trax MiFID List, offer a unique opportunity for institutional firms to prepare for their reporting obligations. The suite of MiFID II transaction reporting and transparency tools will be available through Trax Insight™, a fully customisable web-based system.

Trax Launches Insight Demonstrator

Trax announced that it has launched the Insight Demonstrator, a validation engine that allows institutional firms to test their reporting activity against the new MiFID II transaction reporting obligations. The Insight Demonstrator capitalises on the company’s expertise in providing transaction reporting capabilities as an Approved Reporting Mechanism under MiFID I. It offers a testing environment, with rules-based technology, to provide firms with valuable information about their transaction reporting activity ahead of forthcoming regulatory deadlines. Despite the potential delay for implementation of MiFID II rules, the company continues to work with its clients to ensure they are ready to comply with their regulatory obligations. The launch of the Insight Demonstrator follows the recent upgrade of the company’s technology infrastructure. In response to client feedback and as a part of this technology upgrade, the company has revitalised its post-trade services offering with the roll-out of Trax Insight, a comprehensive suite of regulatory reporting, transparency and matching solutions. The company Insight offers a new web-based interface that enables clients to actively monitor their workflow, and view comprehensive and interactive management information and peer-benchmarking reports to help streamline their operational risk management processes.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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