The first deadline for EMIR compliance has passed and the operational aspects are settling down.
The DTCC, one of the UK Based Trade Repositories, reported that in the first week of EMIR reporting they reconciled over 75 million trades leading to vast quantities of data being warehoused. It’s clear that even with the evolutionary nature of the guidance from ESMA a vast number of institutions were successful in connecting and reporting to one of the authorised Trade Repositories.
The regulatory community are getting to grips with the data that has been collected and with so many institutions reporting, the quality and consistency of the data will be one of the key challenges they face. But will all institutions reporting be seen as compliant? It’s feasible that institutions already reporting may yet find that they are not complying in the manner their regulator expects. Therefore a flexible and dynamic approach to data capture is essential so that when regulators do engage, the right data can be made available, and if data quality issues are identified that these can rectified simply and quickly.
These challenges are something that Eurobase Banking Solutions understands. All relevant dealing information is streamed in real-time from our solutions to whatever solutions a bank may choose using the Siena Relational Gateway allowing the full breadth of dealing information to be made available quickly to regulators.
Our expertise in Front Office Treasury Management Solutions and Integration specialism ensures that all implementations occur quickly, seamlessly and without disruption to day to day activities.
Click here to finds out how the Siena Front Office can provide fingertip control and management of your Trading and Treasury Management operations.
