Born launches new solution for buy-side MiFID II surveillance & reporting

Born Technology has launched a unified tool for MiFID II surveillance, reporting and data management.

The company, which provides global trading, infrastructure and surveillance services to the institutional and professional trading community, has introduced CrossCheck One. It claims the new turnkey solution enables buy-side firms to meet multiple MiFID II, MAR and PRA requirements.

“European buy-side clients have come under significant pressure due to new regulatory requirements including market abuse monitoring, real-time algorithm and DEA monitoring as well as MiFID II transaction and EMIR reporting,” said Derek Haworth, CEO of Born Technology.

“We are hearing that the buy-side has endured significant vendor fatigue, managing too many relationships with too many vendors to solve the increasing regulatory requirements.”

CrossCheck One as a unified platform for solving multiple MiFID II requirements via one terminal. It eliminates the need for multiple vendor relationships, this multi-asset class platform manages futures, equities, fixed income as well as foreign exchange data and meets various parts of MiFID II, MAR and PRA requirements.

It enables users to monitor messaging velocity in realtime, visualise by exchange, trade session, user, algo ID & more, monitor for rejections and limit band breaches, and access realtime alerts via email, SMS, Symphony, Slack, etc.

For transaction reporting, CrossCheck also provides automated retrieval of customer trade records, data enrichment and formatting, report validation, and secure delivery to regulators.

Born Technogoly provides technology services to banks, institutions, hedge funds and asset managers. It claims to ensure ‘the fastest execution’ into the world’s exchanges through its unique architecture that reduces latencies and provides its clients with a route to the respective exchange matching engine. Its serves clients through technical installations in North America, South America, and Europe.

Copyright © 2018 RegTech Analyst

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