6 September 2016, London & New York – Risk Focus, Inc., the leading provider of control and compliance solutions for regulatory trade and transaction reporting to the global capital markets, today announced the first implementation of Reportable.Trade. The trade reporting eligibility service allows banks to comply with the regulators’ trade reporting requirements and to avoid the potentially enormous fines and penalties resulting from under- or over-reporting derivatives transactions. Risk Focus works very closely with regulators to provide financial institutions with an exclusive regulatory trade reporting SLA ; this unique commitment allows firms to stay ahead of regulations.
Brian Lynch, CEO of Risk Focus, commented: “We developed our new service in response to client demand and although we can’t name the institution, we’re excited to now be live with our first client, a global bank that requested that we build Reportable.Trade so that they could prove to regulators that they had the proper reporting controls in place. Any comprehensive swaps supervisory control framework requires the ability to reconcile source trading activity and with trade and transaction reporting activity. Reportable.Trade fills that need” said Brian Lynch, CEO of Risk Focus. He adds: “Similar to Validate.Trade, which banks have adopted to ensure that reported messages are compliant and accurate, Reportable.Trade helps banks ensure that reporting is compliant and complete. We’re excited to be live with our first client.”
With increasing scrutiny and enforcement on banks and other financial institutions for reporting breaches, errors and omissions, firms are under pressure to show that they have the right controls in place.
Reportable.Trade integrates easily with both commercial and custom-built derivatives trading platforms, whether batch or real-time. It applies a set of rules and filters to determine the reporting eligibility for trading activity, creates a set of expected reporting activity, and then compares it against actual reporting activity. An intuitive dashboard allows end users in a firm’s middle-office, compliance and operations groups to spot and drill down on trading activity that Reportable.Trade identifies as not matching the expected reporting activity.
Tabb Forum (Twitter also): http://tabbforum.com/press-releases
Intelligent Trading Technology: http://intelligenttradingtechnology.com/pre-trade-risk/newswire/compliance-risk-reduced-new-reporting-eligibility-service-risk-focus?utm_source=dlvr.it&utm_medium=twitter
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Alla Lapidus / Anne-Charlotte Duhaut
Moonlight Media Ltd.
Tel: +44 (0) 20 7250 4770
About Risk Focus:
Risk Focus is the only company to provide control and compliance for regulatory trade and transaction reporting to its clients with a Regulatory and Repository SLA, helping firms stay ahead of the increasingly challenging demands of global regulators in capital markets. With a Global footprint and offices in New York, London and Riga, we offer a full service model, from advisory and architecture, through to full solution implementation and delivery services including Trade Reporting, Risk Management and Cloud Enabling solutions.
We work closely with leading regulators to provide clients with the most up-to-date regulatory reporting software. Report-It.Trade is the only suite of tools specifically designed to help clients meet the demands of global regulators for accuracy, completeness and timeliness of regulatory reporting.
Since 2004 the world’s top brokers, banks, clearing houses and hedge funds have relied on Risk Focus’ domain expertise and unrivalled track record of on-time delivery for their specialist solutions needs.
For more information please visit https://stage.riskfocus.com