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Centroid Solutions, a global capital markets technology provider, and TRAction, a regulatory reporting specialist, have announced a strategic partnership aimed at streamlining regulatory reporting processes for mutual clients.
Through the partnership, trading data flows directly from Centroid Solutions' infrastructure into TRAction's reporting systems, reducing manual intervention while improving the accuracy, efficiency and reliability of regulatory reporting workflows.
A study by Coalition Greenwich and FIO noted that:
"Some firms maintain 30 or more systems to manage their middle and back office operations. Moving data through this multitude of platforms can be overly manual and introduce cost and risk, such as incorrect trade booking, over (or under) collateralization and inaccurate risk data."
TRAction's reporting solution is designed to help firms reduce the operational complexity associated with fragmented reporting environments by eliminating the need to implement any additional systems. This helps alleviate the need for significant additional resourcing requirements, costs and operational work often involved in regulatory trade reporting.
The integration with Centroid Solutions' CS 360 Engine further demonstrates this approach, enabling trading data to flow directly into TRAction's reporting systems and helping mutual clients simplify regulatory reporting processes while reducing operational overheads and risk.
Quinn Perrott, co-CEO at TRAction
Quinn Perrott, co-CEO at TRAction, commented:
"Financial institutions are already managing increasingly complex operational environments, and regulatory reporting should not create additional operational challenges. By integrating directly with Centroid Solutions, we are making trade reporting more seamless and accessible for clients, while helping reduce the operational burden often associated with fragmented reporting processes."
Cristian Vlasceanu, CEO of Centroid Solutions
Cristian Vlasceanu, CEO of Centroid Solutions, commented:
"Our partnership with TRAction reflects a shared focus on improving operational efficiency for financial institutions. By connecting trading infrastructure directly with regulatory reporting workflows, we are helping clients simplify processes, reduce operational overheads, and improve the overall reporting experience."
TRAction is a major provider of regulatory reporting solutions globally, with over 800 firms across Europe, the UK, Australia and Singapore relying on its services.
TRAction is a full service regulatory trade reporting business, with the following core services: data extraction and conversion to the trade repository format; on-boarding and submission of trades to an approved trade repository or Approved Reporting Mechanism (ARM); and understanding trade reporting rules and how they practically apply to firms.
Centroid Solutions is a capital markets technology provider offering a modular suite of solutions purpose built to power embedded finance and multi-asset trading. Its ecosystem delivers trading technology, infrastructure and support services designed to help financial institutions optimise operations, expand their product offerings and achieve trading performance across global markets.
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