Business & Economy

MAP S.Platis launches solution for EMIR reporting

16 January, 2014

MAP S.Platis, a leading financial services trainer and consultant based in Cyprus, has launched MAP-ERS, a new service for timely reporting that incorporates the demands of the European Market Infrastructure Regulation (EMIR).
The new regulation was introduced as an obligation for all EU counterparties to derivative transactions to begin reporting daily to licensed Trade Repositories by February 12 (i.e. in less than a month).
“This is a task which appears to be particularly burdensome and costly for most forex as well as binary options brokers,” said Dr. Stelios Platis, Managing Director of MAP S.Platis.
He explained that MAP-ERS is an economical reporting aggregator service covering all asset classes which enables EU financial services firms to deal with this recent and complicated EU reporting requirement, efficiently and economically.
“Along these lines, MAP-ERS, has been designed and developed with special attention to brokers and market-makers who deal in rolling spot (non-deliverable) forex, CFDs, binary options as well as other exchange-traded and OTC derivatives.
Platis added that “along our commitment to support the sector, MAP-ERS has been developed to provide Europe’s financial industry with its most efficient and economical independent solution for EMIR reporting, and in this respect we have put in place a number of specific discounts and packages to ensure this.”
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