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New Trade Repository to Launch in Europe  

November 13, 2015

Markets Media

Abide Financial, the independent regulatory reporting firm, is applying to become an authorised trade repository in Europe as the region looks to improve the quality of reporting before new regulations come into force.

Abide said in a statement that it has applied to become a trade repository under the European Market Infrastructure Regulation, joining the six repositories who have already been authorised by the European Securities and Markets Authority.

John Abel, founding director of Abide Financial and chief executive of the trade repository, told Markets Media that the company has been a reporting hub for Emir since the regulations came into force in February last year.

“Becoming a trade repository completes our pipeline and lets us offer a seamless service,” added Abel. “We will be the only trade repository who has direct control of reporting from end-to-end.”

Abide said it is expected to be among the largest three trade repositories by processed volumes of Emir reportable transactions. Anthony Arnold, regulatory and operational compliance director, and Jo Hide, operations director, who both worked at  CME Group’s Emir trade repository are managing the application process and will oversee the new repository. Hide also previously worked at the London Stock Exchange’s UnaVista trade repository.

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