GoldenGate Aims to Bridge MiFID Gap

SAN FRANCISCO-GoldenGate Software, a San Francisco-based trade data management software vendor, last month released a software platform intended to address the post-trade requirements of the Markets in Financial Instruments Directive, which cover trade reporting, transaction reporting and record keeping.

The TDM (Transactional Data Management) platform enables firms to address MiFID reporting and trade reconstitution issues resulting from disparate data stores, reporting systems and manual processes in use at most financial firms. It captures trade and reference data from multiple systems in real-time and immediately publishes the data to one or more data stores without major system overhauls. This avoids potential regulator-imposed fines for non-compliance with MiFID's transparency rules.

In a statement, GoldenGate director of business development André Ros says that it will be "crucial for IT departments to effectively manage multiple sources of diverse data… and be able to move it, preferably in real time, to the appropriate reporting databases without losing transaction boundaries and trade data integrity."

The solution can be easily deployed with the firm's existing database infrastructures, including Oracle, Sybase, IBM and Microsoft. GoldenGate clients include ABN Amro, Bank of America, HSBC and Merrill Lynch.

Will Rankin