08 July 2010 News

 

Xtrakter consults on development of European trade repository

Xtrakter, the OTC post trade services and data provider, is consulting with its users and other market representatives on the development of a European managed trade repository for all asset classes.

"Given our position as a major reporting mechanism, the significant changes that will emerge following the current European Markets Infrastructure Regulation consultation, it is vitally important we consider in conjunction with members of our user community whether it is appropriate for us to develop a European managed trade repository," said Yannic Weber, chief executive of Xtrakter.

Under MiFID, Xtrakter is an Approved Reporting Mechanism to the FSA in the UK, AMF in France and AFM in the Netherlands. Xtrakter also provides Primary Dealers with an onward reporting facility to the National Bank of Belgium.

In 2009 Xtrakter processed 578 million transactions on behalf of users of which 106 million were OTC derivative transactions. Xtrakter has been collecting and storing data since 1985.

Jason Waight, director of product management at Xtrakter said: "As Xtrakter has an established history in providing data, regulatory reporting services to the global capital markets and maintaining an existing data repository, it is perceived that this is a natural progression for our firm. Some of our clients have already indicated their desire for a European managed trade repository."

The consulation period will run from 15 July till 15 September 15, 2010.