Centroid Solutions and TRAction Partner to Simplify Regulatory Trade Reporting
Centroid Solutions and TRAction have entered into a partnership to make regulatory trade reporting easier and more efficient for their mutual clients. The collaboration connects Centroid Solutions' trading infrastructure with TRAction's reporting systems. As a result, firms can reduce manual work and improve the accuracy and reliability of their reporting processes.
Reducing Complexity in Regulatory Reporting
Financial institutions often operate in complex environments with multiple systems handling middle- and back-office functions. Some firms use more than 30 systems for these operations, according to a study by Coalition Greenwich and FIO. Moving data across so many platforms can increase costs and introduce risks such as incorrect trade bookings, inaccurate risk data, and collateral issues.
TRAction's reporting solution aims to address these challenges. Instead of requiring firms to implement additional systems, the solution helps simplify reporting processes within existing operational setups. It reduces the need for extra resources, additional costs, and the operational workload commonly associated with regulatory trade reporting.
Integration Through the CS 360 Engine
The partnership integrates TRAction's reporting capabilities with Centroid Solutions' CS 360 Engine. Trading data can move directly from Centroid Solutions' infrastructure into TRAction's reporting systems. This direct flow reduces the amount of manual intervention required and helps firms lower operational risks and overheads.
Executive Insights
Quinn Perrott, co-CEO at TRAction, highlighted that financial institutions already deal with increasingly complicated operational environments. He explained that regulatory reporting should not add further pressure to these operations. Through the integration with Centroid Solutions, TRAction aims to make trade reporting easier to access and manage. Also, it will help clients reduce the burden created by fragmented reporting processes.
Cristian Vlasceanu, CEO of Centroid Solutions, emphasized the shared goal behind the partnership. He noted that both companies want to improve operational efficiency for financial institutions. The partnership seeks to simplify processes, reduce operational demands, and enhance the overall reporting experience for clients by directly connecting trading infrastructure with reporting workflows.
About Centroid Solutions
Centroid Solutions is a fintech player providing risk management, quantitative analytics, connectivity, and profit and loss optimization services to multi-asset financial brokers. The company has crafted various technological solutions and infrastructure to enhance brokers' operational efficiency, broaden their service offerings, and support their business expansion efforts.
About TRAction
TRAction is a regulatory trade and transaction reporting specialist. It serves financial firms, brokers, investment managers, banks, and electricity suppliers. The firm provides delegated reporting solutions for OTC derivatives and other financial products. It acts as an intermediary between regulated firms and licensed Trade Repositories and/or Approved Reporting Mechanisms.
Wrapping Up
The partnership will make regulatory trade reporting more streamlined and efficient. The companies aim to help financial institutions simplify reporting workflows, reduce operational complexity, and improve reporting accuracy without introducing additional systems.
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