Broadridge to provide regulatory trade and transaction reporting for BayernLB
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Broadridge to provide regulatory trade and transaction reporting for BayernLB 23 June 2021UK Reporter: Maddie Saghir
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Broadridge has been selected by Bayerische Landesbank (BayernLB) to streamline and consolidate its regulatory trade reporting commitments.
BayernLB will utilise Broadridge’s regulatory trade and transaction reporting solution to provide a single strategic solution to regulatory trade reporting commitments.
This will include regulatory commitments for the Securities Financing Transactions Regulation (SFTR), the European Markets and Infrastructure Regulation (EMIR), and the Markets in Financial Instruments Regulation (MiFIR).
In leveraging Broadridge’s solution, BayernLB will also benefit from a consolidated, integrated data model that can be extended and adapted with ease to accommodate additional new reporting jurisdictions and changes to existing regimes.
It will also reduce operational costs, risk and complexity, and enable the Landesbank, which is owned by the Free State of Bavaria and the regional savings banks, to concentrate efforts on core activities, Broadridge explains.
Peter Graml, head operating office, treasury products service at BayernLB, says: “We are very pleased that our decision to adopt Broadridge’s trusted reporting solution not only delivers significant operational efficiency gains and positions us well for future change, but also enables us to dedicate an even higher proportion of our resources to developing customer service relationships and focus more of our attention on what makes us truly unique.”
Hugh Daly, head of capital markets data and regulatory solutions at Broadridge, adds: “We are extremely proud that Broadridge continues to be the provider of choice for globally recognised financial institutions looking to streamline and de-risk their regulatory reporting process.”
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