TRAction and Pinnacle Investment Management Ltd implement transaction reporting partnership
Pinnacle Investment Management Ltd (ASX:PNI), a leading multi-affiliate investment management firm, has partnered with TRAction, a premier regulatory technology provider for trade reporting solutions, to enhance their European Market Infrastructure Regulation (EMIR) and Australian Securities & Investments Commission (ASIC) reporting processes.
Through the use of TRAction’s trade reporting solution, this collaboration seeks to simplify the trade reporting process for Pinnacle Investment Management and mitigate the volume of human and internal resources dedicated to trade reporting. TRAction also assists Pinnacle Investment Management with the understanding of their trade reporting obligations, ensuring compliance with reporting requirements and adherence to industry standards. The partnership is now live and in production, with Pinnacle Investment Management implementing TRAction’s services for both EMIR and ASIC reporting.
This support has been especially important with the recent change to the EMIR Refit (29 April 2024) and the upcoming ASIC Rewrite (21 October 2024). These regulatory changes require a significant uplift in resourcing for transaction reporting. Submissions will be required in XML format, along with a number of new fields implemented that will need to align with the equivalent submission by counterparties to trades (to meet the pairing and matching processes carried out by Trade Repositories).
Quinn Perrott, co-CEO of TRAction, commented:
We are delighted to partner with Pinnacle Investment Management for their EMIR and ASIC reporting requirements. By implementing TRAction’s services, Pinnacle’s trade reporting process will be streamlined and updated in line with regulatory changes, allowing them to concentrate their resources on their core products and services.
Dan Longan, CEO & CFO of Pinnacle Investment Management, stated:
Pinnacle Investment Management is pleased to collaborate with TRAction and leverage their specialist knowledge and expertise in the complex Regulatory technology area to ensure all our trade reporting obligations are met. By working with specialists in their fields Pinnacle can offer a broad range of services to support our affiliated Fund Management businesses, so they can focus on Investment excellence.
About TRAction
TRAction is a global leader in regulatory reporting solutions, serving over 700 firms across Europe, the UK, Australia, Singapore, and Canada. The company provides a full suite of trade reporting services including data extraction and conversion to trade repository formats, onboarding and submission of trades to an approved trade repository or Approved Reporting Mechanism (ARM), and insights into practical application of trade reporting rules.
TRAction’s presence spans, UK, Europe, Australia, Singapore and Canada, and specialises in regulatory reporting for those regimes. TRAction supports a diverse range of financial entities including firms, brokers, investment managers, banks, and electricity suppliers in managing their growing daily reporting obligations. TRAction currently provides a comprehensive range of reporting services under ASIC, MAS, EMIR, MiFID II/MiFIR, SFTR, Canada, and Best Execution for MiFID II and MAS, along with upcoming requirements for both the ASIC and MAS rewrites, and EMIR Refit.
About Pinnacle Investment Management
Pinnacle Investment Management is a leading Australia, UK, EU, and US-based, multi-affiliate investment management firm. Pinnacle's mission is to establish, grow and support a diverse stable of world-class investment management firms with the aim of enabling better lives through investment excellence. Pinnacle provides global distribution, marketing, business development, risk & compliance, financial reporting, HR, IT, operational, middle office, and infrastructure services for its affiliates.
