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
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
SES and ESA Set Up New Government Satcom Platform21.11.2017 13:20 | Tiedote
SES leads a European consortium of industry partners to sign an agreement with the European Space Agency (ESA) to set up Pacis-1, a new satellite communication platform for governments that is aimed at making secure satellite communications accessible and available to governments and institutions. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171121005423/en/ Carlo Elia, Head of the Telecommunications Technologies, Products and Systems Department, ESA, and Gerhard Bethscheider, Managing Director of SES TechCom Services, SES Networks (Photo: Business Wire) Pacis-1 is part of the ESA’s Govsatcom Precursor programme and is the first step in demonstrating how the European space industry can support the EU’s Govsatcom initiative and leverage governmental and commercial satellite services to provide secure access
CORRECTING and REPLACING "Complete Your Game!"The 13th Global Game Exhibition G-STAR 2017 Opens to Success21.11.2017 13:10 | Tiedote
Please replace the release with the following corrected version due to multiple revisions. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171120006218/en/ Opening Ceremony of G-STAR 2017 (Photo: Business Wire) The corrected release reads: "COMPLETE YOUR GAME!" THE 13TH GLOBAL GAME EXHIBITION G-STAR 2017 OPENS TO SUCCESS The exhibition reached record success featuring 2,857 booths by 676 companies from 35 countries It showcases an array of newly released games of various genres and scales The start of the G-STAR Game Show and Trade All Round 2017, an international game exhibition that examines the global gaming industry and its future possibilities, was announced at BEXCO, Busan, on Nove
Telstra and Sigma Systems to Present Catalog-Driven Dynamic Offer Creation at TM Forum Live! Asia21.11.2017 13:00 | Tiedote
Sigma Systems, the global leader in catalog-driven software, announced today that it will be presenting at TM Forum Live! Asia in partnership with Telstra, Australia’s leading telecommunications and technology company. Sigma’s Chief Technology Officer (CTO), Catherine Michel, will be on stage with Telstra's Chief Technology Officer (Customer), Dr. Fawad Nazir, to discuss why traditional service providers must adopt a “digital native” mindset and the corresponding operational agility to thrive in a digital economy. The ability to create and launch new offers in minutes, rather than months, and rapidly enable new business models is critical to an operator’s success. “Sigma Catalog creates the ability to sell through and then orchestrate the fulfillment of an order from different channels into the full B/OSS stack and across various delivery networks. The product’s Offer Canvas
Seoul Semiconductor First in the World to Receive Low Risk Eye Safety Certification for its Natural Light LED SunLike21.11.2017 12:00 | Tiedote
The world-leading LED company Seoul Semiconductor (Head office: Ansan-si, Korea, CEO: Chung Hoon Lee, hereinafter Seoul Semiconductor) announced that SunLike, which implements light which comes closest to sunlight, received an RG-1 Eye Safety certification based on the safety of its light source and was recognized for the highest level of safety amongst 25W COB type LED. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171121005036/en/ 25W SunLike light source which acquired RG-1 grade in Eye Safety certification (Photo: Business Wire) Eye Safety certification is a rating based on safety from analyzing the LED wavelengths. In Europe, where top priority is placed on the safety of lighting, Eye Safety certification is essential and the light source must be higher than RG-3 level, otherwise eye sight may b
FlexTrade Introduces Enhanced Cross-OMS Aggregation for MiFID II21.11.2017 12:00 | Tiedote
FlexTrade Systems (@FlexTrade), a global leader in cross-asset execution and order management systems, today announced the rollout of an enhanced version of its multi-OMS aggregation functionality, an in-built feature of the FlexTRADER EMS, which allows users to merge and net orders across multiple OMSs regardless of the underlying version or implementation. “With a number of major asset manager mergers over the past few years bringing together a variety of OMS technologies, we have seen a surge of interest in FlexTRADER’s unique abilities in cross-OMS order aggregation,” said Oliver Boatfield, EMEA Sales Director at FlexTrade UK. Along with the ability to dynamically merge orders within and across OMSs, FlexTRADER provides highly configurable allocation logic with several out-of-the-box rules, including LIFO, FIFO, pro-rata and optimal average pricing. I
Starr Companies Announces Aviation Insurance Agreement with SMARTT MGA21.11.2017 11:00 | Tiedote
Starr Companies today announced an agreement with SMARTT MGA to act as Agents for Starr International (Europe) Limited to provide automated quotes and policy documentation for light general aviation business. “We have built a close and fruitful relationship with SMARTT and are happy that we have formalized this arrangement,” stated Jim Herbert, chief underwriting officer, aviation. “We believe our StarrLink International platform will bring significant efficiencies to the way aviation business is placed. We look forward to expanding our product offerings through SMARTT MGA in the near future.” Michal Chmielewski, chief executive officer, SMARTT MGA, stated, “Most quotes, binding and policy documentation issuance take only a few minutes to produce through the StarrLink platform – changing the way aviation insurance is purchased.” SMARTT MGA is a part of SMARTT Grou
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme