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NEX Regulatory Reporting launches EMIR RTS Rewrite solution

  • The business currently processes an average of 7 million EMIR transactions a day
  • Clients will connect once to access the Global Reporting Hub to help them comply with their regulatory obligations
  • In addition, NEX Regulatory Reporting clients can access NEX Infinity - a cloud-hosted platform which provides access to all NEX Optimisation services and those of third parties in one place

NEX Regulatory Reporting, a NEX Group business which provides regulatory reporting services across global regulatory regimes, announces that it has launched a new solution to support the EMIR Regulatory Technical Standards (RTS) Rewrite.

Due to come into effect on 28 October 2017, ESMA’s EMIR RTS Rewrite aims to improve the transparency of the over-the-counter (OTC) derivatives market and reduce associated risks such as the mandatory clearing of some asset classes and the attribution of collateral against open positions, posted to secure these positions.

NEX Regulatory Reporting has added the EMIR RTS Rewrite solution to its Global Reporting Hub to help clients meet regulatory compliance with the revised regime when it comes into effect in October 2017. An end-to-end solution, clients will connect once to upload their transaction data in multiple formats for data normalisation, enrichment, determination, reconciliation and validation before being delivered to the relevant regulatory end point.

NEX Regulatory Reporting has provided EMIR services to its clients since the initial regime came into effect in August 2012. Of the 15 million transactions that NEX Regulatory Reporting processes per day, 7 million are EMIR transactions. Based on recent ESMA data, this equates to roughly 20% of the average daily volume of all EMIR reportable transactions to ESMA.

Collin Coleman, Head of NEX Regulatory Reporting, said: “The EMIR RTS Rewrite will be implemented by trade repositories on 28 October 2017 but is currently being overlooked by much of the market with organisations focused on their MiFID II obligations. The revised rules from ESMA significantly increase the level and complexity of reporting required by regulators and affect both existing reporting institutions as well as those that haven’t yet had to report under EMIR. With the Rewrite looming, we encourage market participants to ensure they have a solutions provider in place now, to prevent a last minute scramble towards the end of the year.”

Clients of NEX Regulatory Reporting benefit from faster on-boarding, specialist consultancy and support, agile technology and global regulatory end point connectivity to help them stay fully compliant with all their EMIR and EMIR RTS Rewrite obligations. NEX Regulatory Reporting has applied to ESMA to become a European-based trade repository and expects approval in 2017.

In addition, clients of NEX Regulatory Reporting will be able to access NEX Infinity, a cloud-hosted Software as a Service (SaaS) platform which will provide access to all NEX Optimisation services and those of selected third parties in one place. By utilising this platform, clients will be able to connect once to access a variety of different services which will allow them to further enrich their trade and transaction data.

For more information on the specific changes within the EMIR RTS Rewrite, download NEX Regulatory Reporting’s whitepaper ‘EMIR RTS Rewrite: getting to grips with the regulatory reporting changes’.

NEX Regulatory Reporting A NEX Group business, NEX Regulatory Reporting operates within NEX Optimisation, which helps clients simplify complexity and optimise resources. Powered by Abide Financial Ltd, the NEX Regulatory Reporting platform lowers costs, reduces operational risk and provides regulatory reporting effectiveness. Through the business’s multi-regime reporting hub, regulatory obligations are translated into future proof compliant solutions while its specialist advisory teams interpret the impact of evolving markets regulation relating to trade and transaction reporting. In addition to European regulatory environments (EMIR, MiFID/II, SFTR, REMIT), NEX Regulatory Reporting provides specialised reporting services for entities subject to international regulatory regimes such as Dodd-Frank, ASIC (Australia) and MAS (Singapore).

NEX Regulatory Reporting was recently awarded ‘Best Regulatory Reporting Platform’ at the 2017 Operational Risk (OpRisk) Awards, ‘Best Reporting Platform or Service for the Sell Side’ at the 2017 Waters Technology Awards and ‘Best Advisory Firm for Regulation and Compliance’ at the HFM Week European Hedge Fund Awards.

NEX Group plc offers customers better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Customers use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world’s capital markets. NEX is headquartered in London with offices worldwide.