Hellenic Exchanges Group selects UnaVista solution for EMIR trade reporting
- Hellenic Exchanges - Athens Stock Exchange, selects UnaVista to provide delegated reporting service for customer EMIR compliance
- Assisted registration partnership with London Stock Exchange for allocation of LEIs for Greek market
London Stock Exchange Group (LSEG) announces that Hellenic Exchanges Group (HELEX) has selected UnaVista Rules Engine and Trade Repository solutions to assist with their regulatory reporting obligations under EMIR. London Stock Exchange will also provide HELEX with assisted LEI registration services for all market participants in Greece who are active in trading derivatives contracts. UnaVista’s product suite provides customers with a whole range of solutions to meet EMIR reporting requirements.
London Stock Exchange’s Local Operating Unit will provide HELEX with the option to assist LEI registration and maintenance for the Greek market. This reduces the regulatory burden on both large and small market participants alike, providing the most suitable solution for a market with a large diversity of firms.
HELEX will use UnaVista’s delegated reporting service to report all Greek derivatives trades to UnaVista Trade Repository, on behalf of up to 3,000 counterparties. All 33 member firms of HELEX will use UnaVista Rules Engine to provide a delegated reporting service for up to 32,800 market participants, reducing operational and counterparty risk. The Rules Engine takes raw data from multiple sources, validates using internal reference data and converts to the format specified by the regulator, before being submitted to the UnaVista Trade Repository.
Mark Husler, Global Head of Product Development, Information Services, LSEG: “The partnership between Hellenic Exchanges Group and UnaVista demonstrates the strength of our ‘all-in-one’ offering, which provides a complete regulatory reporting solution. By leveraging the relationship between LSEG regulatory reporting products and UnaVista’s Trade Repository we were able to offer the most competitive EMIR regulatory reporting solution to Hellenic Exchanges Group.”
Dimitris Karaiskakis, COO, Hellenic Exchanges, said: “We are delighted to strengthen our relationship with London Stock Exchange Group through this regulatory reporting infrastructure. It was imperative to Hellenic Exchanges that we could provide one solution to wholly cover the reporting aspect of the EMIR regulation while being efficient and compatible with our highly diverse market members. Such a streamlined solution gives us confidence that our relationships with member firms and market participants will be strengthened”.
UnaVista announced customers went live on their Trade Repository before the 12 February 2014 scheduled date.
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For further information:
Ed Clark +44 (0)20 7797 1222
Notes to editors:
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.
The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and the pan-European equities platform, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets.
Post trade and risk management services are a significant and growing part of the Group’s business operations. LSEG operates CC&G, the Rome headquartered CCP and Monte Titoli, the significant European settlement business, selected as a first wave T2S participant. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.
The Group offers its customers an extensive range of real-time and reference data products, including Sedol, UnaVista, Proquote and RNS. FTSE calculates thousands of unique indices that measure and benchmark markets and asset classes in more than 80 countries around the world.
London Stock Exchange Group is also a leading developer of high performance trading platforms and capital markets software. In addition to the Group’s own markets, over 30 other organisations and exchanges around the world use the Group’s MillenniumIT trading, surveillance and post trade technology.
Headquartered in London, United Kingdom with significant operations in Italy, France, North America and Sri Lanka, the Group employs approximately 2,800 people.
Further information on London Stock Exchange Group can be found at: www.lseg.com