Catena Technologies has expanded the capabilities of its TRACE Reporting solution through integration with CME Group's North American and European trade repositories.
The integration with CME Group will allow TRACE customers to report derivative trades to European, US, and Canadian regulators via CME Group, building on existing support for Australian regulatory reporting.
The system manages the end-to-end reporting and reconciliation by automatically capturing, calculating, enriching, transforming, and submitting the required information to trade repositories. It can also reconcile trade repository data with a firm’s in-house and external data sources.
Catena TRACE Reporting manages all functional requirements for trade reporting, including cross-asset coverage, valuation and collateral reporting, reconciliation, and multi-jurisdiction support, including European Market Infrastructure Regulation and the second Markets in Financial Instruments Directive.
Randall Duran, chairman of Catena Technologies, said: "We see a major opportunity to help financial firms in North America and Europe fulfil their global regulatory trade reporting obligations and address upcoming reporting changes. Many of these firms have issues with delegated reporting and third-party trade reporting services that have limited capabilities."
He added: "Working together with CME Group, Catena is able to provide a solution that improves customers’ operational workflows and provides an end-to-end solution that addresses the full range of regulatory compliance needs."
Jonathan Thursby, head of global repository services, CME Group, commented: "Working together with leaders like Catena to improve the accuracy of trade reporting and reduce operational costs will bring clear benefits to our customers.”
He added: “As a global leader and operator of trade repository licenses, spanning Australia, Canada, EU and the US, CME Group can offer a common experience and broad expertise to optimise trade reporting."
Aaron Hallmark, CEO of Catena Technologies, said: "TRACE's automated reconciliation, in-line data quality controls, and dashboard monitoring capabilities, together with CME Groups' strong technology and operations, can help customers overcome these challenges.”
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