LONDON, 23/10/2017: AxiomSL, the leading global provider of regulatory reporting and risk management solutions, today announces that Totsa Total Oil Trading SA has appointed AxiomSL’s platform for its FinfraG reporting obligation in Switzerland. The company has chosen AxiomSL because of its strategic end-to-end transaction reporting capabilities, efficiently minimising the cost of compliance and reducing the reporting burden.
Market participants face a serious challenge to ensure they continually identify and report on all in-scope trades ahead of the aggressive deadlines in an ever-changing regulatory landscape. As regulations evolve and data requirements continue to increase rapidly, firms have a greater need to adapt integrated approaches for regulatory reporting and analytics processes that calls for a highly accurate, automated solution.
AxiomSL’s flexible and transparent solution provides all the functionalities that firms need to comply with transaction reporting requirements of FinfraG. All in-scope trades are checked for data quality issues and validated before submission to the Trade Repository (TR) of client’s choice in the required format. Key factors such as aggregation, enrichment, validation, granularity and processing large amounts of data were some of the main considerations for Totsa Total Oil Trading SA to choose AxiomSL as their strategic partner for FinfraG regulatory reporting.
“We are very pleased to have been appointed by Totsa Total Oil Trading SA. Constant changes to regulatory reporting requirements continue to pose significant challenges for market participants. Firms now need to shift their regulatory reporting focus from a short term, tactical approach to a long term macro approach that views regulatory data management as a strategic function. We are proud to offer a single platform that can be used to comply not only with Swiss FinfraG reporting requirements, but also many other regulations around the globe in a timely and efficient manner. We look forward to developing our relationship with Totsa Total Oil Trading SA over the coming years.” said Ed Royan, Chief Executive, EMEA, AxiomSL.
AxiomSL is the global leader in regulatory reporting and risk management solutions for the financial industry, including banks, broker dealers, asset managers and insurance companies. Its unique enterprise data management (EDM) platform delivers data lineage, risk aggregation, analytics, workflow automation, validation and audit functionality.
AxiomSL’s platform supports compliance with a wide range of global and local regulations, including Basel III capital and liquidity requirements, the Dodd-Frank Act, AnaCredit, FATCA, AEI (CRS), EMIR, COREP/FINREP, CCAR, FDSF, BCBS 239, Solvency II, AIFMD, IFRS 9, MAS, ASIC, REMIT, MiFID II, SFTR, central bank disclosures, and both market and credit risk management requirements. The enterprise-wide approach offered by AxiomSL enables clients to leverage their existing data and risk management infrastructure, and reduces implementation costs, time to market and complexity.
AxiomSL employs over 600 staff globally that are dedicated to servicing clients across many of the world’s major financial centres, including New York, São Paulo, London, Paris, Brussels, Luxembourg, Frankfurt, Amsterdam, Madrid, Singapore, Beijing, Hong Kong and Tokyo.
AxiomSL was awarded The Asian Banker’s 2016 “Best Compliance Risk Technology Implementation of the Year” as well as “Best Implementation at a Sell-side Firm” in the 2016 Sell-side Technology Awards. It was voted Best Reporting System Provider in the 2015 Waters Rankings and was highlighted as a ‘category leader’ by Chartis Research in its 2015 Sell-side Risk Management Technology report. The company’s work has also been recognized through a number of other accolades, including success in the Best Reporting Initiative category of the American Financial Technology Awards and in the Customer Satisfaction section of the Chartis RiskTech100 rankings. www.axiomsl.com.
London head office: 125 London Wall, London EC2Y 5AJ
Tel.: +44 (0)20 3823 4600