SmartStream and RegTek.Solutions Join to Offer Independent, Turnkey Reconciliation Solutions for Global Regulatory Reporting
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced a partnership with RegTek.Solutions, a leader in regulatory compliance technology, to deliver Reconcile.Trade, a managed service that provides independent, turnkey reconciliations that directly address regulators’ demands for the proactive oversight of trade and transaction reporting.
The joint service combines RegTek.Solutions’ specialized trade and transaction reporting software and market expertise with SmartStream’s leading reconciliations platform, to offer comprehensive, ‘regulation-aware’ reconciliations that are pre-integrated with leading trade repositories (TRs), approved reporting mechanisms (ARMs) and national competent authorities (NCAs). Regulators now require reporting firms to have ‘arrangements’ and ‘mechanisms’ for the reconciliation of internal data with the data reported to regulators via TRs or ARMs. Reconcile.Trade delivers on this requirement with ‘completeness assurance’, the identification of over- or under-reporting, including duplicates, as well as ‘accuracy assurance’, the matching of all individual reporting data attributes required by the various global regulations.
Reconcile.Trade not only identifies possible compliance breaches and control breaks, it delivers the powerful workflow tools of TLM® Reconciliations Premium, the latest version of SmartStreams market leading platform, required to drive root cause analysis and to orchestrate the efficient resolution of issues, while providing the required security, audit trail and data retention solutions.
This offering is designed to coincide with the MiFID II / MiFIR regulations which will be taking effect in January 2018. An integral part of the regulations are the European Securities and Markets Authority (ESMA) demands for robust control and oversight, including visibility into all reconciliations at a detailed attribute level.
For many reporting firms, MiFIR requires a 3-way reconciliation between the front-office systems, ARM and NCA. Direct reporting firms will require reconciliations between front-office systems and their relevant NCA. Reconcile.Trade delivers these reconciliation options on the proven, scalable TLM® Reconciliations Premium platform while the RegTek.Solutions service-level agreement ensures trusted, ongoing maintenance of these reconciliations. Any changes to reporting fields, formats, layouts or communication with ARMs and NCAs are fully maintained within Reconcile.Trade, significantly reducing the change management overhead for reporting firms.
The service can be delivered as securely hosted, software as a service (SaaS), or installed in a clients private infrastructure (Local).
Haytham Kaddoura, CEO, SmartStream commented, “We are very excited to be working with Regtek.Solutions on delivering a full end to end offering for the client base to enable a true control framework for the ever increasing regulatory requirements our clients are now facing. By bringing together the expertise of both companies it significantly lowers the cost challenges to meeting these requirements both locally and globally.”
Brian Lynch, CEO, RegTek.Solutions said, “The regulatory intelligence and understanding that goes into reconciliations gives firms the confidence and quality of control that they need. RegTek.Solutions is expert in the data, formats, messages and reports required for trade and transaction reporting, in order to provide a world-class reconciliation platform we needed an expert reconciliations partner.” Lynch continued, “Smartstream is that partner, they have a tremendous market footprint, they have been offering rich, scalable reconciliations for decades but, most importantly, they have delivered a level of commitment to this partnership that shows that we can trust them. Our clients put a lot of trust in us and they can trust this alliance to deliver and maintain their global reporting reconciliation needs.”
Kurt Eldridge, Head of Global Sales, SmartStream, said, “Providing a robust, systemic reporting platform to achieve accurate reporting is one of the most crucial areas for all participants in the industry to address over the coming year. The implication of failure within these areas can lead to significant fines, negatively impact trading and heavily impacting client reputation.” Eldridge continued, “Partnering with RegTek enables us to deliver a unique managed service that enhances customer value with a single entry point for all of their control requirements. By combining the scale and size of the world’s leading reconciliations platform with the deep regulatory experience of Regtek.Solutions we have created a compelling offering both for today and for tomorrow no matter what regulatory changes come our way.”
For further information
SmartStream Technologies, Inc.
Mark Roth, 212-763-6509
Chief Marketing Officer
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
IFF Declares Dividend for Fourth Quarter 201713.12.2017 21:15 | Pressemelding
Regulatory News: International Flavors & Fragrances Inc. (NYSE: IFF) (Euronext Paris: IFF), a leading innovator of sensory experiences that move the world, announced that its Board of Directors has declared a regular quarterly cash dividend of $0.69 per share of the Company’s common stock, payable on January 8, 2018 to shareholders of record as of December 29, 2017. Meet IFF International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) is a leading innovator of sensorial experiences that move the world. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what if?”. That passion for exploration drives us to co-create unique products that consumers taste, smell, or feel in fine fragrances and beauty, detergents and household goods, as well as beloved foods and beverages. Our 7,400 team members globally take a
Limelight Networks Enhances DDoS Security Services with Faster Mitigation of Malicious Website Attacks13.12.2017 19:18 | Pressemelding
Limelight Networks, Inc. (Nasdaq: LLNW), a global leader in digital content delivery, today introduced new capabilities to its DDoS Attack Interceptor Service that provide high-capacity on-network scrubbing and a scalable range of protection measures for web infrastructure, with the ability to easily increase protection as security requirements change. Protecting websites from online attacks and cyber threats is one of the most pressing security challenges today. For example, data from Limelight’s State of Cybersecurity Report: SE Asia shows consumers are very concerned about the security of ecommerce sites, with 72 percent saying they have a negative opinion of a brand after hearing that it has suffered a cyberattack. In addition, 51 percent of online websites feel they are vulnerable to attacks that could have significant financial and b
Interactive Brokers Now Allowing Short Positions in Bitcoin Futures13.12.2017 17:15 | Pressemelding
Interactive Brokers Group, Inc. (NASDAQ GS: IBKR), a global electronic brokerage firm, will now accept orders for short sales of Cboe Futures Exchange (CFE) Bitcoin futures that began trading on the IBKR platform on Sunday, December 10, 2017. Interactive Brokers requires margin of $40,000 per contract for short sales in CFE Bitcoin futures. Margin on long positions of CFE Bitcoin futures is currently $9,000. “The introduction of short sales was necessitated by the large premium of the January futures contract over the price at which Bitcoin trades on the physical venues,” said Interactive Brokers founder, Chairman and CEO Thomas Peterffy. Interactive Brokers requires customers who wish to trade Bitcoin futures to execute a special agreement acknowledging the risk inherent in the contract. Current and new clients can learn more about trading Bitcoin futures with IBKR a
Sunny Optics Officially Licenses ImmerVision Panomorph Lens Technology for Global Production13.12.2017 12:47 | Pressemelding
ImmerVision, developer of exclusive and patented panomorph wide-angle imaging technology, is proud to announce that Sunny Optics (Zhongshan) Co., a subsidiary of Sunny Optical Technology (Group) Co. Ltd., a leading manufacturer of integrated optical components and products, has licensed panomorph lens technology for global production, and will deliver its first small form-factor panomorph high-resolution super-wide-angle lenses for smartphones and mobile devices in Q1 2018. Panomorph lens technology combines state-of-the-art optical design and advanced, optimized algorithms, including low-power dewarping, to produce high-resolution super-wide-angle images without distortion, even in low light conditions. Sunny Optical is the largest Chinese lens supplier for the most popular smartphone brands and OEM applications such as sports cameras, surveillance, 360 image capture, autom
Synacor Launches Enhancements to Zimbra Communications and Collaboration Suite13.12.2017 12:30 | Pressemelding
Synacor Inc. (NASDAQ:SYNC) today announced the commercial launch of Zimbra 8.8. The easy-to-use collaboration platform comes with new user experience features such as Zimbra Drive for enterprise-level file sync and sharing and Zimbra Chat. The Network Edition features tech stack enhancements including real-time backup, ActiveSync across mobile and desktop, hierarchical storage management (HSM) that enables customers to move archival data to less expensive storage solutions, and improved delegated admin functionality. “Zimbra 8.8 is an exciting update for end users and technical decision makers,” said Marcus Teo, Vice President, Enterprise Sales & Marketing, Synacor. “Customers look to Zimbra for security, privacy and transparency through open code, extensibility, accessibility on multiple devices and deployment flexibility. This update builds on these tenets and incorporates enhancemen
GSMA Urges Members of the World Trade Organization to Prioritise and Accelerate Investment in Digital Future13.12.2017 12:00 | Pressemelding
On the occasion of the 11th World Trade Organization (WTO) Ministerial Conference, GSMA Director General Mats Granryd called on government leaders to reform their regulatory frameworks in order to encourage a new wave of innovation and investment in digital infrastructure and services. Currently, 108 of the WTO's 164 members have made commitments to facilitate trade in telecoms services, such as the right to establish new telecoms companies, make foreign direct investment in existing companies and enable the cross-border transmission of telecoms services. “Today, more than 5.1 billion people – about two-thirds of the world’s population – subscribe to mobile services. With this broad reach, the mobile industry is a major driver in the global economy, expected to employ nearly 31 million people worldwide and contribute $4.2 trillion in economic value (4.9 per cent of GDP) in 2020,” said
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom