You are now live and fully compliant with all the various regulations
requiring reporting of your OTC and listed derivatives. You have
invested substantial time and money in achieving compliance but due
to the tight go-
with limited transparency and still substantial manual overhead,
particularly in managing incoming information from the TR’s, and
satisfying your auditors.
Now, with the benefit of hindsight you realise that your reporting
solution could be improved, not only to solve the above issues but
also to provide a rich source of management and risk information.
The question is – how to do this without writing off your investment
and starting again, which is not viable practically or financially?
Message Automation has a leading cross-
reporting solution deployed around the world and covering multiple jurisdictions.
While most of our clients have implemented our full solution, many for multiple
jurisdictions, there are discrete elements of our overall package that can be used to
complement your current solution and solve the issues highlighted above in a surprisingly short
timeframe by combining our best-
and our ready-
You have built the solution, you extract data, enrich it and send it to the trade repositories but your end users don’t have any way of seeing exactly what has been sent or received back from the repositories.
This is a common concern, particularly from the Operations or Middle-
MA has a state-
You coded all the Dodd Frank logic, then you added to the code for the EMIR rules, now you have new jurisdictions you need to add plus ongoing changes to EMIR (Level 1 and beyond). This internal code is becoming difficult to manage and the people that wrote it have now moved on to new projects.
Determination rules are complex and are constantly evolving. Banks and Buy-
MA has a best of breed decision engine which has already been configured to reflect industry standard reporting rules across multiple jurisdictions and repositories These can be supplied ‘off the shelf’ to new clients and then tailored to client-
For example, using your current Trade & Transaction Reporting inputs, our solution can determine jurisdiction scope and for each jurisdiction whether you are a reporting counterparty (DFA) or UTI generator (EMIR) and then allow you to monitor and track what was reported where for management and audit purposes.
You met all the initial requirements of Dodd Frank or EMIR but as reporting regimes evolve and regulators actually start to look at the data, it is difficult to change your solution to ensure that the content is complete and correct.
ESMA Level 1 validation rules are a good example of refinements being imposed on the market whereby previously ambiguous regulatory requirements are being made more prescriptive. This obviously makes sense from the regulators point of view and should facilitate inter-
As mentioned above, the MA solution includes a set of industry standard rules, developed for our existing clients across a number of jurisdictions and TR’s. These can be used either on a one-
You have focused on getting trades reported to TRs by the required deadlines. However, you are now concerned that the actual data reported was incorrect or incomplete.
MA has deployed a matching solution with a number of clients which reconciles source data back to trade repository records to prove end to end that the bank has correctly reported for each jurisdiction as it should have done. We recreate reporting determination logic completely independently from your existing trade reporting solution. This allows us to define a “source” population by jurisdiction and compare this to the relevant DTCC position reports. Our end user dashboard allows users to easily match the two populations and manage any exceptions that come out of this process.
Please download the info sheets:
Getting Value from Trade & Transaction Reporting Solutions
|Post Trade Control|
|Affirmation & Platform Connectivity|
|Inbound Clearing Reports|
|Trade & Transaction Reporting|
|Internal Trade Monitoring|
|MiFID II Reporting|
|SFTR/DF SEC/EMIR Revision|
|Getting Value from Trade Reporting Solutions|
|Dodd-Frank Trade Reporting|
|EMIR Trade Reporting|
|Canadian Trade Reporting|
|Asian Trade Reporting|
|Swiss Trade Reporting|
|South African Trade Reporting|
|Russian Trade Reporting|