Xtrakter, a provider of over-the-counter post trade services and data to the capital markets, is entering into consultation with members of its user community and other market representatives to discuss the development of a European managed trade repository for all asset classes.
Yannic Weber, chief executive officer of Xtrakter, says: “Xtrakter has a long established history of operating a data repository and is already the leading source for OTC fixed income data in Europe. We currently provide a range of regulators, aggregators and end clients with trade matching, transaction reporting and data services.
“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.”
Under the Markets in Financial Instruments directive, Xtrakter is an Approved Reporting Mechanism to the FSA (UK), AMF (France) and AFM (Netherlands). Xtrakter additionally provides primary dealers with an onward reporting facility to the National Bank of Belgium in accordance with the NBB and Securities Regulation Fund requirements.
In 2009 Xtrakter processed 578 million transactions on behalf of its user community of which 106 million were OTC derivative transactions.
Xtrakter will consult members of its user community between 15 July 2010 and 15 September 2010.
