SimCorp takes EMIR requirements with ease
05 September 2014 Copenhagen
Image: Shutterstock
Clients of SimCorp have met the latest requirements of the European Market Infrastructure Regulation (EMIR) following the second compliance deadline for reporting derivatives trades to a trade repository (TR).
From 11 August 2014, investment management firms are required to include valuation and collateral reports in addition to the data that must already be reported to one of the TRs authorised by the European, Securities and Markets Authority (ESMA).
Of the EMIR requirements, three have a direct bearing on investment managers’ IT infrastructure: introduction of central clearing parties to reduce counterparty risk; optimisations in processing over-the-counter derivatives; and increased market transparency by introducing TRs.
SimCorp’s Trade Reporting solution supports Regis-TR S.A. and the Depository Trust & Clearing Corporation (DTCC) as European TRs, authorised by ESMA.
“The implementation of the Trade Repository solution was marked by the close collaboration between our clients and SimCorp’s consultants deploying the solution in each country,” says Carsten Kunkel, head of SimCorp’s global regulatory centre of excellence.
Kunkel added: “In order to maintain this close contact and to develop our solution further, we have invited our clients to the first European Trade Repository User Group Meeting taking place on 17 September in Paris.”
“We are looking forward to bringing together out clients, as well as representatives or Regis-TR S.A. and DTCC in a knowledge sharing workshop which will be beneficial for all participants.”
From 11 August 2014, investment management firms are required to include valuation and collateral reports in addition to the data that must already be reported to one of the TRs authorised by the European, Securities and Markets Authority (ESMA).
Of the EMIR requirements, three have a direct bearing on investment managers’ IT infrastructure: introduction of central clearing parties to reduce counterparty risk; optimisations in processing over-the-counter derivatives; and increased market transparency by introducing TRs.
SimCorp’s Trade Reporting solution supports Regis-TR S.A. and the Depository Trust & Clearing Corporation (DTCC) as European TRs, authorised by ESMA.
“The implementation of the Trade Repository solution was marked by the close collaboration between our clients and SimCorp’s consultants deploying the solution in each country,” says Carsten Kunkel, head of SimCorp’s global regulatory centre of excellence.
Kunkel added: “In order to maintain this close contact and to develop our solution further, we have invited our clients to the first European Trade Repository User Group Meeting taking place on 17 September in Paris.”
“We are looking forward to bringing together out clients, as well as representatives or Regis-TR S.A. and DTCC in a knowledge sharing workshop which will be beneficial for all participants.”
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