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SmartStream assists clients with ESMA requests for additional data verification

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LONDON, March 22, 2022–(BUSINESS WIRE)–SmartStream Technologies, the provider of transaction lifecycle management (TLM®), today announced its new Trading Venue Quantitative Reporting Outlier Reconciliation regulatory solution, which helps companies remain compliant with MiFID II regulations and offers support for (non-OTC) trading venues to meet MiFID II transparency requirements. RTS 2.

In the post-Brexit era, the European Securities and Markets Authority (ESMA) has strengthened data continuity checks to require trading venues to successfully complete reporting by reporting quantitative data and of reference of financial instruments. Any irregularities must be reported and errors must be re-reported to allow ESMA to meet its deadlines in publishing the liquidity of the financial instrument compared to the size of the financial instrument and as part of extensive calculations. Currently, trading venues typically check their data sets against ESMA’s large databases every three months. This extremely complex task is costly and comes with a significant operational hurdle.

Jethro MacDonald, Product Manager – Innovations Lab, SmartStream, stated: “Tax authorities’ desire to dig deeper into trading venue reporting continues to grow, and with an increasingly critical eye. Compliance with ESMA data continuity checks is complex and costly, and this puts pressure on trading venues. In response, market participants should benefit from the sophisticated tools now available, including AI-powered matching solutions and regulatory reference data, which are easy to leverage cloud-based APIs and provide an extremely useful means of limiting. the regulatory burden on the industry to contribute. to local business places.

SmartStream’s new regulatory solution will ease the burden on the trading venue, which can now send a single file of quantitative financial instrument data to SmartStream Air (IA Reconciliations) on a daily basis. The company then verifies this data against the financial instrument reference data for the trading venue, which is required directly by ESMA. SmartStream Air also installs CFI SmartStream RDU (Reference Data Utility) codes, which are used to verify that the financial instrument listed in the reference data report is not reportable under the quantitative transparent reporting regime; This process is carried out proactively and daily.


About SmartStream Technologies

SmartStream is a recognized leader in financial transaction management solutions that enable organizations to improve operational control, reduce costs, generate new revenue streams, mitigate risk and strictly comply with regulatory requirements.


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View the original version on businesswire.com: https://www.businesswire.com/news/home/20220322005187/en/


Shamira Alidina, Director of Media Relations, Dina Communications
Telephone: +44 (0) 7801 590718
Email: [email protected]

Nathan Gee, Marketing Director, SmartStream Technologies
Phone: +44 (0) 20 7898 0630
Email: [email protected]

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