Misys has added connectivity to DTCC for its Misys Regulatory Reporting Service. This gives corporates, fund managers and smaller banks the choice of multiple trade repositories that they can automatically connect to, so that they can meet their regulatory reporting requirements. Support for commodities reporting has also been added, as well as compliance with new tighter validation rules.
RRS used by 30 companies
Offered as a software-as-a-service (SaaS) solution, Misys Regulatory Reporting Service (RRS) enables customers to report to a trade repository on the execution, modification and termination of a derivative transaction, without needing to implement or maintain new systems. It also handles the valuation (mark to market) and collateral reporting requirements that came into effect in August 2014. More than 30 companies now subscribe to the Misys service, reporting on behalf more than 100 individual legal entities.
Addition of DTCC enables global expansion
With its existing connectivity with Iberclear/Clearstream joint venture (Regis-TR for EMIR OTC derivative reporting), the addition of DTCC’s Global Trade Repository allows for the global expansion of the Misys RRS. Incoming regulations in countries such as Switzerland, Canada, Singapore, and Australia, all have trade reporting implications for both the buy side as well as the sell side. Misys RRS connectivity with DTCC allows the solution to be adopted by clients with reporting requirements in any of these jurisdictions.