Multifonds takes EMIR changes in stride
15 August 2014 Brussels
Image: Shutterstock
Multifonds have incorporated further reporting obligations that came into force this week for the European Market Infrastructure Regulation (EMIR).
The changes mean that financial counterparties and non-financial counterparties must report the value of any over-the-counter or exchanged-traded derivative and the value of the collateral.
Reports must be made after the execution of a trade.
Sern Tham, global head of product strategy for Multifonds, said: “EMIR [changes] impacted our fund accounting product.”
“We carried out quite a big chunk of analysis in advance with our clients but overall the impact has not been huge and we have now completed the development to support our customers on this, both on central clearing and collateral. The changes were not that remarkable from our perspective.”
The changes mean that financial counterparties and non-financial counterparties must report the value of any over-the-counter or exchanged-traded derivative and the value of the collateral.
Reports must be made after the execution of a trade.
Sern Tham, global head of product strategy for Multifonds, said: “EMIR [changes] impacted our fund accounting product.”
“We carried out quite a big chunk of analysis in advance with our clients but overall the impact has not been huge and we have now completed the development to support our customers on this, both on central clearing and collateral. The changes were not that remarkable from our perspective.”
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