AxiomSL, the global provider of regulatory reporting and risk management solutions announced today that Trafigura PTE Ltd, a commodity trading firm, will begin using AxiomSL’s platform for its global trade and transaction reporting.
Trafigura PTE Ltd will roll-out AxiomSL’s solution across a multitude of trade and transaction reporting regimes, including Dodd-Frank, MAS, REMIT and EMIR as well as submitting to multiple TRs, SDRs, RRMs, etc.
It is becoming progressively difficult to keep on top of the ever-evolving regulations, such as EMIR phase II which comes in to effect on November 1 this year, meaning that firms such as Trafigura PTE Ltd are seeking a more strategic and holistic approach to trade and transaction reporting.
In addition to the global trade and transaction reporting requirements, AxiomSL will be delivering threshold monitoring checks, such as Clearing Threshold Calculations for non-financial counterparties under EMIR and De Minimis Threshold, which will form part of the overall solution for Trafigura PTE Ltd.
AxiomSL’s solution enables firms to not only meet their reporting obligations, but also manage risk exposure across all business functions more transparently. The platform provides flexibility in regulatory calculations and reporting whilst simultaneously integrating seamlessly with existing infrastructure. Key factors such as aggregation, enrichment, validation, granularity and processing large amounts of data were some of the main considerations for Trafigura PTE Ltd when seeking their long-term strategic regulatory provider.
Ed Royan
Commenting on the implementation of the platform, Ed Royan, Chief Executive, AxiomSL, EMEA said:
We are extremely pleased to begin this relationship as the firm’s regulatory provider. As we continue to expand in to the energy and commodities sector, we look forward to developing a great connection with Trafigura. We are certain that AxiomSL’s data and process platform will give Trafigura the best means of ensuring that they meet all their global requirements in a timely and efficient manner. Being responsible for the group’s P&L means that the decisions I make have to be the right ones. AxiomSL’s platform will provide Trafigura PTE Ltd with, what we believe is, the best system available to make the unforgiving regulatory process most efficient”, said Mike Wainwright, Chief Operating Officer and Trafigura Management Board member. “AxiomSL was the only vendor that was able to provide all of our trade and transaction reporting needs, and we look forward to the partnership ahead of us.