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Risk Focus Launches DTCC Trade Reporting Validator Trial with 4 Global Banks

Risk Focus DTCC Trade Reporting ValidatorRisk Focus, Inc. has launched a financial industry trial with four major global banks for our new Trade Reporting Validator.  The trial period runs from August 15, 2014 through January 31, 2015.

The Trade Reporting Validator is the latest technology offering from New York-based Risk Focus in the derivatives trade reporting and integration space.  The Validator builds on the firm’s deep experience developing mission-critical reporting and integration solutions, including the DTCC’s EMIR delegated reporting engine (CRDE) and connectivity between major CCPs and the DTCC.

The Trade Reporting Validator significantly reduces the costs and compliance risks associated with submitting derivatives trades to the Global Trade Repository.  By centralizing rule validation, coding and testing into a shared service model, Risk Focus will deliver substantial measurable industry benefits.

The Validator includes both TR Emulator and Validator components.  The TR Emulator component includes the same validation rules and produces the same responses as those returned by the GTR.  The Validator component validates trade messages against a larger set of rules to increase the “accuracy and completeness” required by global regulators.

Financial institutions can implement the Trade Reporting Validator in both testing and production compliance.   The validation engine comes with a rich set of TR and regulatory compliance rules covering:

  • FpML and CSV message types
  • FpML schemes/schema validation
  • All asset classes credit, rates, FX, equity, commodity, ETD, OTC Lite
  • Regulatory jurisdictions: EMIR, CFTC, Canada, Hong Kong (HKMA), Australia (ASIC), Japan (JFSA), Singapore (MAS)
  • Internal workflow validations for trade state transition, timing, collateral, valuation, static data (e.g. LEI validation) and others

The industry trial provides participants a fully-functioning validation engine to identify weaknesses in their derivatives trade reporting processes.  Trial participants have the opportunity to influence the development path and derive substantial benefit from collaboration.

For more detail please visit our Trade Reporting Validator page.

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