To help streamline and consolidate all of its regulatory trade reporting commitments Bayerische Landesbank (BayernLB) has selected Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, to handle its regulatory trade and transaction reporting. BayernLB will utilise Broadridge's multi-asset class, multi-jurisdictional regulatory trade and transaction reporting solution to provide a single strategic solution to regulatory trade reporting commitments – including for SFTR, EMIR, MiFIR and MMSR.
In leveraging Broadridge's solution, BayernLB will also benefit from a consolidated, integrated data model that can be extended and adapted with ease to accommodate additional new reporting jurisdictions and changes to existing regimes. Additionally, it will reduce operational costs, risk and complexity, and enable the Landesbank, which is owned by the Free State of Bavaria and the regional Savings Banks, to concentrate efforts on core activities.
"Our customer relationships and commitment to service quality are what makes BayernLB special," said Peter Graml, Head Operating Office, Treasury Products Service at BayernLB. "We are very pleased that our decision to adopt Broadridge's trusted reporting solution not only delivers significant operational efficiency gains and positions us well for future change, but also enables us to dedicate an even higher proportion of our resources to developing customer service relationships and focus more of our attention on what makes us truly unique."
"We are excited to help BayernLB with all of the industry's new and ever-evolving reporting requirements and to see this solution live in the German market," said Hugh Daly, Head of Capital Markets Data & Regulatory Solutions at Broadridge. "We are extremely proud that Broadridge continues to be the provider of choice for globally recognised financial institutions looking to streamline and de-risk their regulatory reporting process."