EMIR regulatory reporting will not be your only reporting problem
by Kylene Casanova
Impendium, see earlier item, provide a general platform, called Impendium Elements, for managing regulation and compliance for banks and other Fis, and for large companies including energy companies and global manufucturers.
In terms of reporting, Impendium deal mostly in two areas a) trade/transaction reporting and b) financial reporting (end of day positional reporting, balance sheet, etc). Trade/transaction reporting largely depends on the regulation, i.e. for MiFID they report to an ARM (Authorised Reporting Mechanism) in Germany and the UK (UnaVista or Xtrakter mainly). For EMIR, although Impendium are trade repository agnostic, they have found that their customer base (mainly banks and FIs) is primarily choosing the DTCC or REGIST-TR for their reporting channel.
Impendium has found that Dodd-Franck reporting is very fragmented in terms of requirements and so, whilst Elements supports it, they consider it be a programme delivery rather than a product item.
There are bound to be more regulatory reporting standards that corporate treasury departments will have to comply with. The existence of a general multi-regulatory platform raises the question: ‘Would be more sensible in the long term to start with them from day 1 rather than use several different platforms as reporting requirements expand?’
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