Impendium Systems, a leading provider of regulatory applications to financial and non-financial organizations throughout the world is pleased to announce that its Elements regulatory platform will be available for reporting to approved Trade or Swaps Data Repository’s.
Impendium Systems’ CEO, Stuart Clark comments: “By extending the Elements regulatory Platform for EMIR reporting our clients will be able to consolidate all of their MiFID, Dodd Frank REMIT and EMIR reporting via a single consolidated and normalized data set. We are now also able to provide the same customers with extended third party client reporting providing a value added service”.
The elements platform provides customers the ability to quickly consume trade, collateral and positional data – obtain external valuations where appropriate and provide a flexible link to multiple regulators through approved data repositories where appropriate. It also provides a robust governance process to ensure that the correct information is not only delivered at the appropriate time but if required provide detailed information to internal compliance and external regulators on underlying exclusions, updates and exceptions.
Heads of Operations and Compliance are se t to benefit further with a flexible view on single or multiple markets and the benefits that normalised data can bring across this.
‘The aggressive EMIR deadlines only strengthen the use of the Elements regulatory platform’ says Will Cawthorne head of sales. ‘We are working closely with internal IT departments who recognise that accessing and sending the data is only a small step in the overall governance process and that not using the Elements platform is a short sighted approach with potential disastrous consequences’
‘We are seeing a number of different strategies to address this enterprise issue including looking to enhance existing trade feeds to exchanges who will look to act as the data repository’ comments Rory McLaren CTO. ‘This may be appropriate if you only utilise a single exchange across all you r trading activities globally’ but for the majority of institutions who will need to derive this data across multiple asset classes the Elements regulatory platform is a key asset in resolving the regulatory burden’