UnaVista Wins European Trade Repository of the Year
UnaVista was last night announced as the European Trade Repository of the Year at the FOW International Awards ceremony. The nominations were judged by a panel of independent brokers who allocated points to all of the trade repositories across a number of categories such as customer service, education, responsiveness and performance.
Will Mitting, FOW, commented:
“The introduction of mandatory trade reporting under EMIR was beset with complications and difficulties as firms were not ready to report and trade repositories were over-whelmed in the first few days of reporting. UnaVista, however, won praise from the judges for its communication and educational work with clients in the run up to the introduction of the trade reporting mandate.
While some TRs with significantly lower volumes experienced few complications on the day, the confidence of UnaVista in going back to the market after the initial introduction for a second round of client acquisition, was hailed by one judge of indicative of its success in bedding down after the initial influx.”
Mark Husler, CEO of UnaVista added:
“EMIR was a significant step change for the whole industry and we are delighted to have been awarded Trade Repository of the year by an independent panel. This recognition comes off the back of us being continually prepared ahead of schedule for all of ESMA’s requirements and ensuring our clients are well equipped to remain compliant. Our experience as the largest ARM under MiFID and other reporting services across multiple regulations has enabled us to guide clients through the challenges of this process.”
This latest award follows UnaVista winning Best EMIR and Regulatory Reporting Solutions Provider at the Compliance Register awards only 2 weeks ago. UnaVista Trade Repository has helped more than 4,500 counterparties report in excess of 1.5 billion derivative transactions through 2014. London Stock Exchange have set up an EMIR Reporting Foundation Course to assist practitioners of EMIR to fully understand the details of the regulation and how to report effectively. UnaVista also provides derivative reporting services for other G20 nations such as Hong Kong, Singapore and Australia, as well as being a leading MiFID reporting service in Europe.