Firm unveils flexible and transparent solution that can be quickly implemented for a variety of regulations
AxiomSL, the leading global provider of regulatory reporting, risk and data management solutions, have announced that Chartis Research, a leading provider of research and analysis on the global market for risk technology, has named the company a 2017 Category Leader for its MiFID II Reporting Solutions. Concurrently, AxiomSL announced that its MiFID II solution is available worldwide.
“AxiomSL’s MiFID II reporting solution is a Category Leader by virtue of its completeness of offering and market potential,” said Hugh Stewart, Research Director of Chartis Research. “It provides a user-friendly, agile and integrated platform that addresses the demanding implementation and operational challenges MiFID II presents. Their MiFID II solution particularly stands out by offering strong, advanced capabilities in sourcing and classifying data, ensuring data quality, allowing users transparency of their workflow processes and hence successful post-trade transaction reporting.”
AxiomSL’s flexible and scalable solution enables users to easily manage their MiFID II reporting requirements by detecting all in-scope trades and transactions, aggregating and validating the necessary data and submitting the relevant data to either Approved Public Arrangements (APAs) or Approved Reporting Mechanisms (ARMs) in their respective formats.
The integrated platform allows firms to comply with other regulatory reporting requirements in G20 jurisdictions such as EMIR, REMIT and FinfraG. By using AxiomSL’s platform for all regulatory needs, companies can greatly reduce the cost and complexity of regulatory compliance, provide transparency and control of the entire workflow and deliver a high-quality and accurate report to the regulators.
“We’re honored that Chartis Research has recognized our MiFID II capabilities as a category leader,” said AxiomSL Global CEO Alex Tsigutkin. “We’ve spent a great deal of time building a strategic platform for MiFID II that can be implemented in a short timeframe and can be used not only for EMIR transaction reporting, but also for all other reporting requirements globally. We look forward to continuing to work with our clients to manage their MiFID II reporting requirements and ensure they are compliant come January 3, 2018.”
“Our goal with this solution is to ensure banks comply with post-trade reporting requirements in a quick and efficient manner,” added Olivier Kamoun, Chief Product Officer for AxiomSL. “We provide the flexibility of connecting to an ARM and/or APA of the client’s choice, while ensuring that all the mandatory fields are populated in the proper format before being submitted. In addition to MIFID II, AxiomSL provides a strategic platform, which encompasses G-20 derivatives reporting and other transaction reporting requirements like REMIT and FinFraG as well.”
Chartis’s Category Leaders are risk technology vendors that have the necessary depth and breadth of functionality, technology and content, combined with the organizational characteristics to capture significant market share by volume and value.
Chartis’s FinTech Quadrant™ reports are written by experienced analysts with hands-on experience of selecting, developing, and implementing financial technology solutions for a variety of international companies in a range of industries including banking, insurance and capital markets. The findings and analysis in the FinTech Quadrant™ report reflects their analysts considered opinions, along with research into market trends, participants, expenditure patterns, and best practices. Chartis uses a combination of sources to gather market intelligence, these sources include Chartis vendor evaluation forms, risk technology user surveys, interviews with subject matter experts, customer reference checks, vendor briefing sessions, and other third-party sources.
AxiomSL is the global leader in risk data management and regulatory reporting 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, reconciliation, validation and audit functionality, as well as disclosures. AxiomSL’s platform supports compliance across a wide range of global and local regulations, including Basel III capital and liquidity requirements, the Dodd-Frank Act, FATCA/CRS, EMIR, FRTB, COREP/FINREP, CCAR, MiFID II, FDSF, BCBS 239, Solvency II, AIFMD, IFRS 9/CECL, MAS, APRA, REMIT, SFTR, central bank disclosures, and both market and credit risk management requirements. The company’s technology and solutions have numerous accolades, including success in the Best Reporting Initiative category of the American Financial Technology Awards, Best Implementation at a Sell-Side by Incisive Media, and highest recognition in the Customer Satisfaction section of the Chartis RiskTech100 rankings. www.axiomsl.com
Chartis is the leading provider of research and analysis on the global market for risk technology and is part of the Insight division of InfoPro Digital, which includes market leading brands such as Risk and Waters Technology. Chartis' goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology. RiskTech Quadrant®, RiskTech100® and FinTech Quadrant™ are registered trademarks of Chartis Research.