Validate.Trade is used through the entire Reporting solution life cycle to deliver ACCURATE Trade and Transaction Reporting
Validate.Trade solutions support Development and Testing (Pre-Production) as well as Operations and Compliance (Production)



Production Solutions: Supporting Regulatory Operations teams responsible for the day-to-day
monitoring, and management of Trade and Transaction reporting operations as well as compliance reporting to Auditors, Management and Regulators.



Data Gatekeeper


PRE-VALIDATING ALL outbound reporting messages before submission to a Regulated Repository prevents rejections and improves reporting health statistics to Regulators, reducing chances of audit or sanction.

Another proactive best practice, championed by the CFTC Division of Swap Dealer and Intermediary Oversight (DSIO).

  • Data Gatekeepers: Automated systems that perform verification processes to identify errors prior to reporting.

Validate.Trade offers a scalable service for validating near Real-Time Streams of reporting data or large End of Day files across all Global Jurisdictions in our SLA.

Quality Surveillance


Proactive Surveillance of reporting quality in Production is the first step in achieving the transparency and confidence required by management and the control demanded by regulators.

Best Practices highlighted by the CFTC DSIO Advisory (Dec 2015) and echoed by Regulators around the world include:

  • Automated Review of Reported Data: Identify errors and make timely corrections during the 48 hour SDR data accuracy confirmation period.
  • Erroneous Record Checks: Review, correct and resubmit information promptly. Implement a process to investigate errors to prevent future recurrences.
  • Data Correction: Errors and omissions in reported data should be corrected promptly after discovery, current and historical data.

Rich, Accurate surveillance against Market Tested validation rules supports these critical control practices and Regulatory expectations.

 

Proof-of-Control


Prove to regulators that the Accuracy of trade reporting is by design, not circumstance!

Streaming each regulatory report through the most complete set of message and data validation engine on the market provides a rich data set of historical and current quality assurance statistics, supporting regular and ad hoc reporting to management and regulators.

Regulators expect the data they receive to be of high quality. They assure this quality by auditing firms controls and demanding proactive solutions are implemented to deliver Accurate, Complete and Correct Trade and Transaction reporting

Back Loading


Confidence in the quality and integrity of back loaded Transactions and Positions. Some Regulatory Jurisdictions require extensive back loading of historical trades. Historical data tends to be of lower quality requiring increased enrichment and manipulation to meet Regulatory and Repository expectation that back loaded data is ACCURATE.

The SEC’s Security Based Swap Reporting rules include particularly onerous back loading requirements. Validate.Trade supports the pre-validation of trades prior to back loading. Specific back loading validation rules are included to help clients identify the appropriate back loaded trades and meet specific back loading requirements imposed by the Global Trade Repository on back loaded data, in some cases this may mean more relaxed validations vs. life reporting data.


Back Testing


Prove the efficacy of improved controls and drive historical metrics for Compliance, Management and Regulatory reports. Validate.Trade’s high throughput and rich validation output allows reporting parties to back test large sets of historically reported Trade and Transaction data.

Per the CFTC – “Data Correction: Errors and omissions in reported data should be corrected promptly after discovery, current and historical data.

Andy-Green

Andy Green

Global Sales and Business Development | RegTek Solutions

Andrew Green is a derivatives professional with 20 years’ experience across financial regulations, operations, middle office and program management. Prior to joining Risk Focus, Green was at DTCC , where he lead the development and delivery of the Equity Derivatives Trade Repository. Then he created and lead the Global Account Management and Sales teams for DTCC’s derivatives and repository services.

Contact Regtek Solutions for information about our managed software solutions for trade reporting.