MAP-ERS, a solution for EMIR reporting from MAP S.Platis Group of Companies, has announced the successful reporting of 15 million transactions to Trade Repositories, on behalf of its members, since EMIR’s implementation.
MAP-ERS members include banks and investment firms from the UK, Ireland, Cyprus, Estonia, Bulgaria and Poland.
In January this year, MAP-ERS announced it had reported more than 11 million trades during the first 11 months of its operations. This suggests that approximately 4 million trades have gone through the system in the first 8 months of 2015, pointing to a probable slowdown in trades reporting.
The MAP-ERS platform has been designed and built by Europe’s leading and awarded financial services consultants, offering ease of access, fast processing, enhanced security protection and confidentiality for the transferring and handling of data, whilst being supported by experienced in-house teams of compliance professionals and IT specialists.
MAP S.Platis makes the switch to MAP-ERS literally seamless, immediate and cost-efficient for companies (including Forex brokers) even if a company is currently reporting to a Trade Repository directly or through a Third Party Provider. This is possible via the innovative Automation Tool of MAP-ERS, which is able to extract data from clients’ systems and convert it automatically to an EMIR Report, ready to be submitted to a Trade Repository via MAP-ERS. This process does not require any human intervention or the need for maintaining personnel for this purpose.