Fortune Prime Global Taps TRAction to Streamline ASIC Reporting for Forex and CFD Trading

Fortune Prime Global, a CFD and forex broker holding an AFSL, has partnered with TRAction, a leading regulatory technology provider for trade reporting solutions to assist its compliance with Australian ASIC OTC derivative reporting regulations.

Under ASIC, entities dealing in OTC derivatives are required to report transactions to a registered Australian Derivatives Trade Repository (ADTR). Through leveraging TRAction's reporting solution for their Australian Securities and Investments Commission (ASIC) requirements, Fortune Prime Global can consolidate their internal resources dedicated to trade reporting and ensure accurate compliance with their reporting requirements.

The partnership is now live and in production, with Fortune Prime Global deploying TRAction's solution in recent weeks.

Quinn Perrott, co-CEO of TRAction, commented: "TRAction is pleased to be assisting with Fortune Prime Global for their regulatory reporting ASIC requirements. By integrating this solution, Fortune Prime Global streamlines their trade reporting processes, ensuring not only compliance but also freeing resources to drive innovation and enhance client experiences."

Fortune Prime Global, commented: "Fortune Prime Global is pleased to partner with TRAction to streamline our ASIC OTC derivative reporting process. This partnership allows us to prioritise other vital areas of our operations, freeing up our resources for enhanced service and provides a strong foundation for us to stay compliant with our reporting regulations."