TRAction partners with Duco to assist with reconciliation processes
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TRAction partners with Duco to assist with reconciliation processes 13 March 2024UK Reporter: Sophie Downes
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London-based technology provider TRAction has partnered with Duco to assist clients with their reconciliation processes.
Duco is an AI platform for enterprise data automation which aims to provide complete control solutions for transaction reporting.
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.
By utilising a third party software for this process, TRAction aims to distinguish between itself as the delegated reporting provider and the reconciliation process.
Quinn Perrott, co-CEO of TRAction, says: “This collaboration enhances our data solutions, aligning with our commitment to simplify trade reporting and streamlining processes for clients.”
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.
“It will enable TRAction customers to manage the cost and complexity of vital regulatory reporting controls such as EMIR Refit."
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