TRAction Partners with Duco to Enhance Reconciliation Processes

London-based technology provider TRAction has partnered with Duco, an AI platform for enterprise data automation, to assist clients with their reconciliation processes. This collaboration aims to provide complete control solutions for transaction reporting.

Streamlining trade reporting and regulatory compliance

As part of TRAction’s service, clients on EMIR and MiFIR Premium, as well as Assured plans, will receive reconciliations as part of their service. This will involve a three-way reconciliation, which compares a client’s reported trade data against the data held in the trade repository, and finally against what is held by the client.

“This collaboration enhances our data solutions, aligning with our commitment to simplify trade reporting and streamlining processes for clients.” - Quinn Perrott, co-CEO of TRAction

By utilising a third-party software for this process, TRAction aims to distinguish between itself as the delegated reporting provider and the reconciliation process.

Three-way reconciliation for accurate trade data

James Maxfield, chief product officer of Duco, adds: “Our platform is designed to empower finance and operations teams to automate their mission-critical data processes by leveraging AI and a true self-service model.”

This partnership will enable TRAction customers to manage the cost and complexity of vital regulatory reporting controls, such as EMIR Refit.

Simplifying regulatory reporting for financial institutions

In other news, the 6th Securities Finance Technology Symposium in London was a resounding success, featuring insightful panel sessions covering crucial topics such as repo, regulation, collateral, and future tech.