16 Jun Global Hedge Fund Selects AxiomSL to Automate Complex IFR and CRD Regulatory Reporting in Europe and the U.S.
Both Solutions Will Run Concurrently on the AxiomSL ControllerView® Platform
London, 16 June 2021: AxiomSL, the industry’s leading provider of regulatory reporting and risk management solutions, today announces it has been selected by one of the world’s largest hedge funds, to provide a strategic platform designed to address IFR (Investment Firms Regulation) and CRD (Capital Requirements Directive) requirements in the UK, France, Ireland and the U.S..
Following Brexit, financial firms are challenged more than ever to adapt to a rapidly changing regulatory landscape. The complex transition from CRD to IFR requires new data sourcing, categorizations, and calculations – firms must plan carefully to meet each regime’s mandates in their respective jurisdictions on time.
Hedge funds operating in this market with expansive footprints across Europe and abroad require a regulatory and risk management reporting system that can accommodate multi-jurisdictional complexity and address existing and future compliance needs. In addition, they require the scalability to deal with large volumes of data and high frequency processing, within tight deadlines. The key drivers for selecting the AxiomSL’s ControllerView® platform were its flexibility to operate seamlessly under multiple regimes (CRD and IFR, etc.), its end-to-end process transparency, and its ability to quickly adapt to regulatory changes.
Claudia Thurner, Chief Revenue Officer, AxiomSL, said: “It has been a great pleasure collaborating with such a highly regarded organization as we embark on this journey. AxiomSL’s transparent data-driven platform, extensible data dictionaries that ensure consistent mapping, and automated processes will enable the global fund to efficiently navigate the transition to new IFR rules, meet existing CRD requirements, and build a foundation to expand to other regulatory mandates. We look forward to deepening our relationship.”
AxiomSL, a leading global provider of solutions and managed services, delivers efficient risk and regulatory data-management and reporting outcomes for financial institutions. Clients leverage AxiomSL’s solutions across financial, liquidity, capital and credit, shareholding disclosure, trade and transaction, and tax mandates. Its single, fully managed, audit-empowered offering, RegCloud® – AxiomSL’s ControllerView® platform in the cloud, futureproofs clients against technology and regulatory change. AxiomSL’s client base spans national, regional, and global financial institutions. These comprise banks with $45 trillion in total assets including 80% of G-SIBs; investment managers with $13 trillion in assets under management; and 30% of the top 60 US broker-dealers representing $44 billion in shareholder equity. It covers 110 regulators across 50 jurisdictions. AxiomSL ranks in the top 20 of the Chartis RiskTech100®.
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