Leading French Private Bank Selects Adenza to Automate Trade and Transaction Regulatory Reporting in Europe and Asia
Adenza’s AxiomSL Scalable, Regime-Agnostic Trade and Transaction Reporting Solution Encompasses Upcoming EMIR Refit and MAS Requirements.
Compelling event and decision drivers
With the EMIR Refit’s April 2024 deadline looming, this bank’s large wealth management arm urgently required a centralized and highly scalable trade and transaction regulatory reporting solution to comply with EMIR Refit’s OTC derivatives trading and counterparty transparency requirements and also meet the Monetary Authority of Singapore’s (MAS) rewrite of its securities and futures regulations.
To comply efficiently with the reporting demands of a growing number of trade regimes, burgeoning granular data volumes, and regulatory changes, financial institutions must abandon siloed processes for more strategic approaches. This is crucial given the concerted global effort to harmonize OTC derivative reporting through adoption of standards promoted by CPMI-IOSCO that define the structure of unique trade identifiers (UTI), unique product identifiers (UPI), and other trade and instrument definitions present in critical data elements (CDE). The CFTC Rewrite is one of the first challenges globally. On its heels, are Europe’s EMIR Refit and APAC’s MAS, JFSA, and ASIC rewrites, among others.
Because the client’s current provider’s solution was unable to handle the stresses of regime change, global coverage, and transparency, the bank selected Adenza — appreciating that as its business grows and trade and transaction requirements change and expand, it can comply and flexibly scale on a single platform.
Adenza’s AxiomSL Trade and Transaction Reporting Solution
Via its AxiomSL ControllerView® platform, Adenza offers a regime-agnostic, non-siloed, flexible, end-to-end solution for trade and transaction reporting and submissions to trade repositories (TR). Its configurable eligibility, exception management, and reporting engines are driven by a comprehensive, extensible regulatory data dictionary that spans jurisdictional reporting regimes.
Because the solution natively ingests cross-asset trade data from many sources – including Adenza’s Calypso capital markets platform, clients can streamline their entire trade-and-transaction lifecycle data flows and operational processes.
Key Benefits
At this inflection point of global harmonization, Adenza enables clients to manage current challenges (EMIR Refit, MAS Rewrite) and futureproof trade and transaction reporting – all on a single data-driven, RegCloud®-enabled (ControllerView in a SaaS environment) platform. With Adenza firms can:
- Confidently monitor and manage end-to-end regulatory compliance
- Quickly adapt to changing regulatory regimes and mandates
- Reduce operating costs and infrastructure burdens
We are delighted to welcome this distinguished client into Adenza’s global trade and transaction community and look forward to working with them on current and future needs. Our solution uniquely combines a regime-agnostic global approach with simple, practical, streamlined, and automated monitoring and reporting workflows.
This futureproofed single-platform offering instills confidence that clients can scale as their businesses grow and regulatory mandates change — especially needful given the burgeoning global trend for harmonization and data granularity.
- Vincent Lemaire, Head of Sales, Continental Europe and UK, Adenza
