The Regulatory Reporting Hub of Deutsche Börse Group has launched a partnership with Risk Focus and its software subsidiary, RegTek.Solutions, headquartered in New York. Risk Focus will provide key system components for the Regulatory Reporting Hub’s OTC Trade Reporting solution, including RegTek.Solutions’ Validate.Trade product.
The functionality of the components provided by Risk Focus and Reg.Tek.Solutions includes interpretation of instrument details of OTC derivatives submitted in FpML or XML format as well as a rules engine for applying the regulatory validations, eligibility checks and deferrals.
“In the dynamic environment with frequent updates of regulatory details, the approach using a rules engine has already proven to be very useful. OTC trade reporting is one of the backbones of MiFID II, which is going to be effective as of January 2018. Deutsche Börse’s MiFID II OTC trade reporting service will provide clients with an efficient and simple-to-use way of meeting their OTC transparency requirements in accordance with the new regulation,” said Georg Gross, Head of Regulatory Services at Deutsche Börse.
“Given the extreme time pressure that firms are under to comply with MiFID II, we are proud to provide a version of Validate.Trade to all users of Deutsche Börse’s Trade Reporting Services that allows them to start testing their OTC Trade Report Submissions straightaway. Our partnership with Deutsche Börse will enable us to combine existing and custom components to bring this important MiFID II Trade Reporting Service to market,” said Lloyd Altman, Partner, Risk Focus.
Deutsche Börse Group has concentrated its solutions for regulatory compliance onto one platform – the Regulatory Reporting Hub. This Hub enables sell-side and buy-side clients as well as corporates and trading venues to meet their regulatory obligations efficiently and reliably – publication requirements as well as reporting to all relevant National Competent Authorities, covering multiple regulations.
Deutsche Börse is one of the world’s leading service providers for the securities industry with a product and service offering for issuers, investors, intermediaries and data vendors. The Group's offering covers the entire value chain from trading, through clearing, to settlement and custody of securities. Market Data + Services is part of Deutsche Börse's IT & Operations, Data & New Asset Classes division and comprises the Group's broad market data offering as well as external technology and network services. Products and services include real-time and historical trading data from the Group trading venues Eurex and Xetra, as well as from cooperation partners. The department also markets reference data for more than 1,000,000 securities and over 11,000 indices including the STOXX and DAX index families, an excellent trading infrastructure and reliable network services.
Risk Focus is a 13-year-old specialist services firm that delivers trading, regulatory, risk and cloud-enabling solutions to the global capital markets. With offices in New York, London and Riga, Risk Focus offers a full-service model from independent advisory and architecture services through full implementation and solution delivery.
RegTek.Solutions is the new home of the Report-it suite of software controls for Global Trade and Transaction Reporting. Formed in 2017, RegTek.Solutions is a wholly-owned subsidiary of Risk Focus Inc., the firm responsible for the original vision, development and distribution of the Report-It Control Suite, including Validate.Trade, Reportable.Trade, Load.Trade & Reconcile.Trade, which was established in 2004.