TRAction launches Trade Reporting services to Australian FX brokers

TRAction has launched trade reporting and monitoring services to margin foreign exchange (FX) and contracts for difference (CFD) providers.

First Published by e-Forex News: January, 2016

Quinn Perrott

Quinn Perrott

TRAction has launched trade reporting and monitoring services to margin foreign exchange (FX) and contracts for difference (CFD) providers. TRAction offers a holistic solution for Australian brokers to report their trades under the new OTC derivatives trade reporting legislation which commences for Phase 3B providers on Friday, 4 December 2015. 

The firm will simplify the Trade Reporting process according to Co Founder Quinn Perrott, “If a broker works on their own, they need to extract data from MT4 or other platforms and convert it into the format for the ADTR they are reporting to and interpret the legislation in the process. There are currently only two firms who have received an ADTR licence from ASIC, being a portal which receives trades from brokers, DTCC and CME.”