London, November 2015: A cracker of a week for Message Automation, we are rocketing ahead on all fronts. In the lead up to 'fireworks' night in the UK last week we experienced a number of exciting and spectacular events of our own.
All of our EMIR reporting clients successfully went live on EMIR L2 on last weekend's deadline date. And even better, all enjoyed a smooth first week of operation. Our EMIR clients range from Global Banks to Buy-
Message Automation client live on IIROC reporting.
A major MA client in Canada has gone live on IIROC reporting for bonds and fixed income instruments. This further expands the bank's use of our technology to provide a strategic trade reporting solution, which already covers Dodd-
Message Automation signs up a new Swiss regional bank to support FinfraG reporting.
More good news for MA Trade Reporting. A leading Swiss regional bank has signed up with MA to provide a solution for 'FinfraG', the Swiss trade reporting regulation. This further extends MA's unrivalled coverage of multiple trade reporting jurisdictions from a single platform. To see more on our trade reporting solutions, including FinfraG and MiFID2, go to Regulatory Trade Reporting.
Tier one firm banks on Message Automation to improve STP.
In an innovative new use of MA's patented technology, an existing Tier One Banking client has engaged with us to work with us on the harmonisation and cleansing of client static data to improve STP across the bank's trading activities. More details to follow on this new offering.
Major U.S. Bank takes Message Automation to harmonise incoming Clearing Reports.
MA has signed a new Tier One US bank as the third user of our unique Clearing Reports solution. By harmonising data from hundreds of reports produced by CCPs and Brokers onto a single in-
London, Q4 2015: Message Automation release the second instalment of 'MA Dialogue' -
The Client Bulletin is part of our external communications strategy aimed to keep our clients and community abreast of what we are doing, and what we plan to do. We aim to publish these on a regular basis and welcome your feedback and comments for future input. If you would like to be added to our mailing list please contact us.
7th September 2015: Message Automation, the pioneers of Post Trade Control solutions for derivatives, is pleased to announce their participation at the Post Trade Forum taking place at the NH Danube City Hotel, in Vienna on Thursday 10th and Friday 11th September 2015
On Thursday afternoon at 16.00, Hugh Daly -
Hugh Daly commented, "In an ideal world, all financial institutions would already have, via a single dashboard, the ability to monitor and audit all events and information on all trades throughout their entire lifecycle. Sadly, this is still generally not the case. And with the imminent arrival of MiFID II, the consequences for those firms who are not fully prepared for the additional demands this will place on already stretched resources, will undoubtedly be significant. I am looking forward to being part of a lively debate and sharing ideas and views on these important subjects."
Message Automation is the leading specialist provider of Post Trade Control solutions. We help clients manage the multiple trade processing challenges created by new regulations and market practices across all asset classes in OTC, ETD and FI markets. Built around a central data model in which we harmonise all internal and external data our solutions include: Trade Reporting, House/Client Clearing, Affirmation/Confirmation, Management of diverse reports from CCPs and brokers; SEF connectivity and Collateral messaging. Message Automation’s solutions can be implemented individually or brought together to provide a holistic view of the post trade lifecycle, for control, compliance and exception management.
Please contact us for further information.
London, July 20th 2015: Message Automation announces record profits for FY 2014/2015 -
London 20th July 2015 -
Hugh Daly, MA’s CEO said, "We are very proud of our achievements over the last year, with the financial highlights being only one positive aspect. The increase in ongoing commitment by our customers is important as it underpins our substantial R&D investment. The company remains profitable, cash flow positive and has a strong balance sheet. At the same time we are delighted to report that we have added a number of new name clients in Europe, Asia and Africa as well having significantly expanded our relationships within our existing users. Two of our major goals for 2014/15 were to maintain our 100% customer satisfaction rating, which we achieved, and to continue to innovate by developing new solutions built on our advanced platform -
Hugh continues, "There were also a number of other factors which helped to fuel our growth. Our clients benefit from a rounded Post Trade Control environment from which they can quickly and easily add extra functionality from our extensive and increasing connectivity library. A major example of this has been in the area of managing incoming clearing information from CCPs or brokers. Working with major Tier 1 banks we have harmonized the data arriving from over 300 diverse clearing reports enabling distribution to a much wider range of internal consumers. As further regulations such as MiFID2, new market practices including mandatory clearing and SEF execution kick in over the coming months we believe that a single platform to manage post trade control will be an imperative for all serious derivative market participants. We are confident that our customers are already well positioned to meet these regulatory changes head on."
About Message Automation
Message Automation, headquartered in London, is the leading specialist provider of Post Trade Control solutions. We help clients manage the multiple trade processing challenges created by new regulations and market practices across all asset classes in OTC, ETD and FI markets. Built around a central data model in which we harmonise all internal and external data our solutions include: Trade Reporting; House/Client Clearing; Affirmation/Confirmation; Management of diverse reports from CCP’s and brokers; SEF connectivity and Collateral messaging. Message Automation’s solutions can be implemented individually or brought together to provide a holistic view of the post trade lifecycle, for control, compliance and exception management.
For further information: Contact Ian Chester
Tel: + 44 7721 780029
There seems to be a growing consensus from Banks, Consultancies and Vendors that MiFID2 reporting will be very hard. Importantly, avoiding the mayhem associated with EMIR will require a much more strategic approach than either EMIR or Dodd Frank. Hindsight is 20/20 of course, but encouraged by similarities with William Hague’s ‘I told you so’ comments re the Euro this week, I thought I would point out that Message Automation did indeed ‘tell you so’ regarding the best way to approach Trade Reporting compliance back when the regulatory tsunami began over two years ago.
Happily, some financial organisations did take note and Message Automation went on to successfully implement the vision in the attached paper for a number of banks and buy-
London, 16th April 2015: Message Automation Hosts Inaugural User & Community Group Meeting
On Thursday last week (April 16th) MA held its first User & Community Group at a London hotel. The client event in the afternoon was to brief our users on recent developments and future plans at MA, and receive their feedback. Attendees included senior representatives from HSBC; Lloyds Banking Group; Nomura, and Standard Chartered Bank. We also had representatives from clients in Scandinavia and Andile, our partner in South Africa. HSBC, Lloyds and Andile talked directly regarding their use of MA solutions for Trade Reporting, CCP and Affirmation connectivity; Management of incoming CCP and broker reports; and FX matching.
In the evening we invited our clients and the broader ‘MA Community’ including non-
The event concluded with a high quality panel discussion featuring Chris Childs, CEO of DTCC DerivServ; John da Gama Rose, head of Deloitte Consulting’s financial technology practice; Bill Hodgson, CEO of The OTC Space and MA’s own David Farmery. With lively audience interaction the panel discussed whether recent and future changes in market practice and regulation were actually reducing risk in the OTC markets, or merely increasing complexity and fragmentation.
Hugh Daly concluded ‘Both the User and Community events were very well attended and feedback was very positive. MA will now build on this to put together similar industry events on a regular basis going forwards. I would like to thank all attendees and particularly those who contributed by sharing both their experiences with MA and their wider market knowledge and views so freely and openly.’
London, February 2015: Message Automation announce their first User and Community Group Meeting
Taking place in a central London hotel on Thursday 16th April 2015. The agenda is still being finalised but the day will start with 3/4 sessions dedicated solely to the MA users, both technical and business. It will then lead into a session with the wider MA community. If you would like to join us please email: email@example.com
London, Q.1 2015: Message Automation release their first Client Bulletin -
The Client Bulletin is part of our external communications strategy aimed to keep our clients and community abreast of what we are doing, and what we plan to do. We aim to publish these on a regular basis and welcome your feedback and comments for future input. If you would like to be added to our mailing list please contact: firstname.lastname@example.org
London, January 2015: David Farmery, COO addresses ‘MiFID II & Trade Reporting – Understanding Requirements & Challenges’ in a podcast published by Derivsource
Click the link below to hear about how firms (both buy side and sell side) need to prepare their operational processes to ensure they can meet new reporting requirements. Listen to this 19-
MiFID II Trade Reporting -
London 19th November 2014: Message Automation today highlighted how increased operational risk and costs due to fragmentation of OTC derivatives processing is now a major concern for financial institutions
Derivatives connectivity and regulation specialist Message Automation Limited, today highlighted major challenges in the industry, with regulatory change and new market practices leading to fragmentation of OTC derivatives processing and data inconsistency, resulting in operational inefficiencies, increased risk and spiraling costs. Message Automation has been investigating the impact of these issues with buy and sell side firms across Europe, Asia and North America. Read more …
For more information please follow the link -
London 12th November 2014: Message Automation sponsors Clearing & Settlement World 2014
The conference is being held on Wednesday 26th and Thursday 27th November 2014 at the Millenium Hotel in Mayfair.
The event focus is on 'The New Clearing and Settlement World: Responding to regulation and strategizing best practise post-
In addition to sponsoring the event, Hugh Daly, CEO, will be joining other senior market participants on the panel (11.50am, Wednesday 26th November 2014) to discuss 'How to revolutionise your post-
For more information please follow the link -
London, 7th October 2014: Message Automation publishes white paper on “Hell Freezes Over or Derivatives Processes are Harmonised, Which Comes First?"
Message Automation sponsored a webinar, hosted by Derivsource on 'How to achieve operational control in the fragmented OTC Derivatives Landscape'.
Hugh Daly, the Message Automation CEO was joined by a panel of experts including John van Verre, Head of Global Custody at HSBC Securities Services; David Field, MD of specialist consultancy 'The Field Effect' and Mark Croxon, Global Product Manager for OTC Clearing at Nomura.
To read the white paper “Hell Freezes Over or Derivatives Processes are Harmonised, Which Comes First?” which addresses the issues discussed in the webinar please click here >
London, 24th September 2014: Derivsource publishes interview with Hugh Daly
Please click on the link below to see the text of an article published today on the Derivsource website. The article follows an interview by Julia Schieffer of Derivsource with Hugh Daly Message Automation's CEO on the subject of 'Managing Data from OTC Derivatives Clearing Reports'.
London, 25th February 2014: Message Automation helps eight clients to hit their EMIR Trade Reporting deadline
Derivatives connectivity and regulation specialist Message Automation Limited (MA) has successfully helped eight clients to hit the challenging EMIR trade reporting deadlines on February 12th.
The clients include leading banks in North America, UK, Europe and Russia as well as a major UK buy-
Six of the clients were new to Message Automation, as recently as December. The other two expanded on existing implementations of MA’s futureLANDSCAPE solution facilitating Dodd Frank Reporting, CCP connectivity, and links to affirmation platforms.
Neil Thomas, MA’s CTO commented, “It has been a challenging and exciting few weeks given the deadlines, the complexity and the fact that this was new territory to everyone involved -
Particular challenges which we overcame included:
October 2013: Message Automation teams up with Ian Chester and Dave Clark to support expansion and international growth plans
Message Automation, the OTC Derivatives post-
September 2013: Message Automation celebrates its first decade in style at The Savoy
The company marked its 10th Anniversary with an evening of Music, Magic and Masterchef” at The Beaufort Bar of London’s prestigious Savoy Hotel. The highlight of the evening was a cooking competition between directors Neil, Hugh and David. Judged by Masterchef’s Gregg Wallace, David Farmery’s Millefeuil, that was apparently “pralinated” won the evening.
April 2013: Message Automation announces that its futureLANDSCAPE Trade Reporting Solution will support mulitple Trade Repositories
With the EMIR trade reporting deadlines looming many organisations are facing a choice of trade repositories to meet their European regulatory obligations. Message Automation's futureLANDSCAPE cross asset class reporting solution is already being tested with the three main EMIR repository options: DTCC's GTR, Unavista, and Regis-
Building on its success addressing the Dodd Frank Act, the proven reporting solution is also being enhanced to cater for the additional requirements from ESMA over and above CFTC, such as reporting of Listed Derivatives and Collateral Valuations.
Message Automation is well positioned to accelerate time-
If you would like to discuss the implications of Dodd Frank or EMIR Reporting on your organisation? We would be delighted to have a no obligation chat about our experiences to date and what you need to look out for. E-
March 2013: Message Automation is pleased to announce futureLANDSCAPE goes live on time for cross-
A major North American bank has successfully gained compliance for CFTC trade reporting by deploying futureLANDSCAPE. The solution is handling all lifecycle reporting requirements to DTCC's GTR across multiple asset classes. Data is being sourced from several primary trading systems and enrichment sources using the platform's in-
The project was further proof of Message Automation's underlying technology, but also our rules based approach. Message flows to and from GTR in FpML 5.3 are available pre-
The project was achieved in dramatically tight timescales and included implementation of Message Automation's insideTRACK operations dashboard. This allows users across a variety of departments to react in real time to trades alleged against the bank and to internal data quality issues. Bespoke exception management workflows and reporting metrics were configured by the bank's own team within insideTRACK.
October 2012: Message Automation confirms second major bank selects futureLANDSCAPE to support reporting to regulatory trade repositories (TRs).
Following our recent selection by a major North American bank to provide a cross-
The platform will be used to handle multi-
The same connectivity platform can be shared by any or all of Rates, Credits, FX, Equities and Commodities asset classes. In addition to providing the external connections out-
Message Automation's CEO Hugh Daly said "We believe that this second success in the arena of regulatory trade reporting further confirms our strategy to provide a robust cross-
By implementing futureLANDSCAPE the bank only needs to worry about a single common data format and a standardised message flow across reporting regimes. We mask all that multi-
September 2012: Global bank implements futureLANDSCAPE for affirmation and clearing connectivity
Following a successful proof of concept, another of the world's largest banks has selected Message Automation's futureLANDSCAPE and is now moving ahead with a full implementation of the solution. This first phase will provide straight through connectivity to the ICE-
June 2012: totalORDER deployed for cross asset class population reconciliation in top ten investment bank
As further proof of the power of Message Automation's innovative matching solution in OTC Derivatives, totalORDER, a major investment bank has gone live with the solution, on time, on budget. This deployment of the solution addressed an urgent requirement to replace manual infrequent processes with an automated daily reconciliation. totalORDER is being used to perform an entire population reconciliation against the external DTCC representation. The rules-
July 2012: Message Automation demonstrates its leadership in CCP connectivity as futureLANDSCAPE is certified "Eurex Clearing Ready"
Message Automation is pleased to announce it is the first software vendor to demonstrate round trip connectivity to Eurex's new OTC clearing service. Our futureLANDSCAPE solution now supports bi-
February 2012: Tier one investment bank goes live on futureLANDSCAPE in just seven weeks!
Following the bank's decision to implement Message Automation's futureLANDSCAPE solution in January, we are delighted to confirm that the initial phase went into production at the end of February. This phase addressed an urgent connectivity requirement to support OTC affirmation. The timescales for this high profile project adds further proof of Message Automation's differentiator of accelerating time to market.
The project scope included full STP to the bank's in-
The bank is continuing to work with Message Automation to further broaden the scope and rapidly on-
January 2012: Another tier one investment bank signs for futureLANDSCAPE to support OTC affirmation and clearing.
Following a successful proof of concept during November 2011 another of the "Fed 18" global investment banks has now licensed Message Automation's futureLANDSCAPE solution and will begin implementation immediately. With the first client deliverables scheduled for go-
Message Automation's CEO Hugh Daly said "We believe that this on-
By implementing futureLANDSCAPE the bank only needs to worry about a single common data format, and a standardised message flow. We mask all that complexity. As many banks have more than one primary trading system to connect internally, the argument becomes even more compelling. The message is getting through!"
This latest sale of Message Automation's technology was led by its investor and partner company Broadridge Financial Solutions Ltd.
October 2011: Message Automation continues to expand the off-
We are pleased to announce that following a deployment at a major bank, full round trip testing has been completed with LCH.Clearnet for the "FCM 2" direct OTC clearing model. The "Click Certification" from LCH was acquired in just five weeks from the start of the project, further demonstrating the strengths of the futureLANDSCAPE solution in lowering project risk and accelerating time to market in the OTC Connectivity space.
September 2011: Major global bank selects futureLANDSCAPE for cross asset class client clearing
Following a rigorous vendor evaluation and selection process we are delighted to confirm that a member of the G14 group of global banks has selected Message Automation's flagship connectivity solution, futureLANDSCAPE as the platform for their client clearing business in OTC Derivatives. futureLANDSCAPE will handle external connectivity to multiple CCPs, affirmation platforms and potentially SEFs and reporting repositories as the market evolves.
The Bank evaluated more than a dozen alternative suppliers and selected Message Automation for two key reasons: firstly, the proven technology was built for purpose using our 8 years of experience in OTC messaging and connectivity and our patented know-
In summary the solution will accelerate time-
April 2011: Use of totalORDER expanded at tier one investment bank
Following the success of its initial deployment of Message Automation's innovative matching solution in OTC Derivatives, one of the world's top ten investment banks has gone live with a second implementation of the solution. Proving the power and flexibility of the rules based approach, this latest project addressed a very different requirement. totalORDER is now being used by operations teams in Asia to match synthetic equities hedge and swap trades across the region. This multi-
August 2010: Message Automation expands with new office in the City of London
Due to the continuing expansion of its core business in financial services, Message Automation has relocated its Head Office to new premises in the heart of the City, London's financial district. Located just a few metres from the Bank of England and the Royal Exchange, moving to 29 Throgmorton Street confirms Message Automation's focus on our customers, many of whom are close by.
July 2010: Message Automation finishes record year by winning major new client with another validator sale to a leading global investment bank
Another of the world's top ten investment banks has selected Message Automation's validator as the technology for improving data quality throughout its Transaction Processing Group. validator will be used to constrain the bank's internal XML standard, based on FpML, across all OTC products and asset classes. As well as ensuring industry standard semantic rules are up to date through subscribing to our FpML rules maintenance service, the bank is using our consultancy services to assist with configuring approximately 300 further business rules in validator
This major deal allows Message Automation to complete a record financial year, enhanced by adding two of the world's top ten investment banks to our customer base.
May 2010: Message Automation confirms pilot customer goes live with Message Automation's totalORDER next generation matching technology
The major investment bank that in November signed contracts to implement Message Automation's totalORDER next generation matching technology has successfully gone into production, on time and on budget. The project is being seen as a resounding success, having taken less than six months from the start of the planning stage. As part of the project, the population of live unmatched interbook and intercompany trades has been reduced by in excess of 180,000 trades.
February 2010: Another global investment bank chooses Validator for a strategic data quality initiative.
Message Automation is pleased to announce another success. The global markets division of a major financial institution has selected validator as the core semantic rules engine for improving data quality. To be deployed on the existing enterprise service bus, validator will be used to centrally check XML documents across all products and asset classes. Our consultants will also assist the Bank in converting the standard FpML business rules to constrain the Bank's own internal XML data standard (originally adopted from FpML, but heavily modified since.)
|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|