RegTek.Solutions and its partner SmartStream were the joint winners of the Best RegTech category at the 2018 FTF News Technology Innovation Awards, for their combined Reconcile.Trade solution.
Reconcile.Trade provides independent, turnkey reconciliations that directly addresses Regulators’ demands for the proactive oversight of trade and transaction reporting. Reconcile.Trade offers comprehensive “regulator-aware” reconciliations that are pre-integrated with leading trade repositories (TRs), approved reporting mechanisms (ARMs) and national competent authorities (NCAs).
The solution combines RegTek’s specialised trade and transaction reporting software and market expertise, with SmartStream’s experience in the delivery and maintenance of reconciliation controls. RegTek’s CEO Brian Lynch commented, “We are expert in the data, formats, messages and reports required for trade and transaction reporting while SmartStream provides the world-class reconciliations requirements to build a service that offers a true control framework to meet the regulatory needs of our clients.”
For the awards process, FTF News looked for a solution provider making inroads in advancing data management and governance issues in the context of “regulatory reporting requirements becoming a major burden for financial services firms”, highlighting the importance of “paving the way for a more streamlined reporting regime across the enterprise.” RegTek and SmartStream were selected as winners of the Best RegTech Solution award by a judging panel of senior industry participants.
Reconcile.Trade more than meets these needs and has provided client firms with an industry-leading platform to reconcile between front-office systems, ARM and NCA for MiFIR. Furthermore, with changes to reporting fields, formats, layouts or communication with ARMs and NCAs being fully maintained within Reconcile.Trade, the change management burden for reporting firms is significantly reduced.
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