15 Apr AxiomSL’s new generation Securities Financing Transactions Regulation (SFTR) solution meets specific client requirements and achieves the original ESMA deadline
AxiomSL announces a unique regime agnostic offering for clients ready to meet the original ESMA SFTR reporting deadline
LONDON, 15 April 2020 – AxiomSL, the industry’s leading provider of regulatory reporting and risk management solutions, today announces its new generation regime agnostic offering for SFTR (Securities Financing Transactions Regulation) – providing counterparties with a seamless process for complying with global reporting requirements. Clients, ready to meet the SFTR rules this April now extended deadline to July 2020, will use this extra time to refine their operational processes.
AxiomSL new generation regime agnostic SFTR solution enables counterparties to manage all regulatory data collection/validation/enrichment/submission to relevant trade repositories (TRs) and/or regulatory bodies on a single platform. The solution easily integrates with other systems; thus, counterparties benefit from a non-invasive approach – enabling them to reduce implementation time/costs and deliver complete, timely, accurate regulatory reports.
“Fraser Reid, Senior Solutions Architect, AxiomSL, stated: “During these uncertain times, readiness to adapt to regulatory changes is critical. Our new generation regime agnostic trades and transactions reporting offering enables our clients to be ahead of the curve and unique in the marketplace, when implementing a truly scalable approach to SFTR and other trade and transaction reporting. We are in effect providing technology to financial firms that enables them to be prepared for evolving requirements across many jurisdictions and multiple regulatory mandates in a timely, transparent, cost-efficient manner which is critical to addressing their concerns for being compliant”.
Clients currently implementing the SFTR solution appreciate the intelligence and analytics of many of the functionalities. Not only does the solution identify and submit eligible reporting events from trade information received, but changes to regulations are easily adopted through seamless platform upgrades. Thus, clients are confident in the strength of the SFTR solution in identifying all in-scope transactions and automatically producing reports to efficiently comply with regulatory requirements, whilst deriving insight from transparent and trusted trade and transaction data.
This new generation multi-regime reporting solution utilizes non-evasive trade data collection to automatically determine regime eligibility, ensuring there are no regulatory over/under reporting issues. One of the key aspects of the solution and highly demanded by clients is the exceptions management capability, enabling a fully auditable and traceable resolution of any data quality issues, by providing an alert mechanism for all reportable events. Reconciliation (pairing and matching) issues raised post report submission by trade repositories are also flagged as exceptions; helping users to more effectively manage their resolution.
This offers a comprehensive exception management capability and with the solution’s exception management dashboard, operations teams can now focus on value added issue resolution.
In addition, financial institutions can manage their SFTR and multi-regime reporting obligations on cloud, providing a secure and cost-effective solution, via AxiomSL’s RegCloud offering.
AxiomSL is a global leader in risk analytics, data-management, and regulatory-reporting solutions. Leveraging more than 25 years’ experience, AxiomSL combines its deep industry experience and intelligent data-management platform to deliver solutions and services around regulatory and risk reporting, liquidity, capital and credit, operations, trade and transactions, and tax analytics. The platform can be deployed on premise or on the cloud. Its client base spans regional and global financial institutions with more than $43 trillion in total assets and investment managers with more than $11 trillion in assets under management. Its coverage encompasses more than 110 regulators across 55 jurisdictions. AxiomSL is in the top 20 of the Chartis RiskTech100® 2020 ranking.
For more information, visit www.axiomsl.com.