Comparison · 2026 edition
Nasdaq AxiomSL vs TRAction: regulatory reporting compared 2026.
Nasdaq AxiomSL and TRAction side by side in the Regulatory Reporting Index 2026: scores, evidence, published facts and awards.
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Nasdaq AxiomSL and TRAction side by side in the Regulatory Reporting Index 2026: scores, evidence, published facts and awards.
In the Regulatory Reporting Index, TRAction scores higher overall: 3.4 out of 5 (68 out of 100) against 3.0 (59), ranking 2 and 5 of 12. Nasdaq AxiomSL scores higher for banks; TRAction scores higher for payment and e-money firms and investment and crypto firms.
Overall and segment scores out of 100, and the score out of 5.
| Score | Nasdaq AxiomSL | TRAction |
|---|---|---|
| Score out of 5 | 3.0 | 3.4 |
| Score out of 100 | 59 | 68 |
| Overall rank | 5 of 12 | 2 of 12 |
| For banks (out of 100) | 66, rank 4 | 65, rank 5 |
| For payment and e-money firms (out of 100) | 52, rank 8 | 72, rank 1 |
| For investment and crypto firms (out of 100) | 59, rank 4 | 68, rank 2 |
| Type | Risk and financial regulatory reporting platform | Delegated trade and transaction reporting service |
Each score with the evidence behind it.
| Criterion | Nasdaq AxiomSL | TRAction |
|---|---|---|
| Report coverage | 3/5 Prudential and financial regulatory returns across many regulators; transaction and tax reporting not published. | 2/5 One report family (trade and transaction reporting) across seven regimes. |
| Published pricing | 0/5 Not published on the pages read. | 5/5 Monthly fees, per-message prices and per-entity fees published in a full schedule. |
| Regulator reach | 5/5 170+ regulators across 60+ jurisdictions published. | 3/5 Regimes across Europe, Asia Pacific and the Americas named. |
| Delivery | 3/5 SaaS with rule updates and automated submission; no managed service or onboarding process published. | 5/5 Delegated reporting, rule updates, published onboarding and no set-up fees. |
| Security and standing | 2/5 One named bank case study; no security certification published on the page read. | 1/5 Client count only; no named clients or certification. |
| Data controls | 4/5 Data lineage, validation rules and checker controls; reconciliation not published. | 5/5 Error correction, reconciliation against regulator records and accuracy reviews published. |
Each criterion is scored 0 to 5 against the best published offer in the Regulatory Reporting Index. 0 means not offered or not published. How it is scored
What each provider publishes on its own pages, read on 26 October 2026.
| Fact | Nasdaq AxiomSL | TRAction |
|---|---|---|
| Coverage | "Risk & Financial Regulatory Reporting" for banks and brokerages, with "reporting templates" and calculations on a single platform. | Reporting for EMIR, MiFIR, SFTR, ASIC, MAS, Canada and CFTC, plus best execution monitoring. |
| Reach | "Ensure compliance with 170+ regulators across 60+ jurisdictions"; "3,500+ financial institutions in 50+ countries" in the Nasdaq community. | "regulatory technology services across Europe, Asia Pacific and the Americas" with offices in London, Sydney, Cyprus and Singapore. |
| Delivery | "Our fully SaaS-delivered solution ensures you have not only the latest regulatory rules"; submission in XML, XBRL and other formats "and automate the submission process". | "As a delegated service provider, TRAction manages the entire reporting process"; "Logic updates when regulations change" on Premium and Assured; published onboarding video; "no additional software, setup or consulting fees". |
| Controls | "full auditability and traceability of data lineage"; "in-built regulatory validation rules, and automated alerts"; checker controls. | "ARM Error correction", "Reconciliation of NCA or ARM vs Firm records", accuracy review reports and daily eligibility analysis. |
| Standing | Case study with Banco Mercantil del Norte (Banorte). Security certifications not stated on the page read. | "Trusted by 1000+ firms"; testimonials unnamed; certifications not stated on the pages read. |
| Pricing | Not published on the pages read. | MiFIR schedule: monthly account fee £720 (Basic), £1200 (Premium), £2400 (Assured); per message £0.03, or first 1000 free then £0.03 or £0.02; delegated reporting £200 per LEI (£100 on Assured); "exclusive of VAT". CFTC SDR: "$5.00 Cost of each transaction or position uploaded in a month". |
| Date read | 26 October 2026 | 26 October 2026 |
Not published or not stated by Nasdaq AxiomSL: standing, pricing, report coverage and delivery.
Not published or not stated by TRAction: standing and security and standing.
Facts read on 26 October 2026 from: nasdaq.com/products/fintech/axiomsl/…; and tractionfintech.com, tractionfintech.com/pricing, tractionfintech.com/…, tractionfintech.com/about-us.
Awards follow from the published scores and cannot be bought.
From each provider's strongest criteria and published terms.
Banks and brokerages reporting to many regulators worldwide.
Smaller investment firms, brokers and money transfer firms wanting a published price.
Tell us what you need and where you operate.