Answering the ‘Why?’: Droit & KOR Partner for Unparalleled Regulatory Reporting Solution

By: Alastair Whitehair

When it comes to regulatory reporting, firms are often faced with a puzzling dilemma: Why is it so difficult to achieve 100% completeness for trade reporting? Subsequently, this raises another question: How can we quickly and easily figure out what is going wrong?

Ultimately, successful monitoring and evaluation of systematic risk all comes down to complete and high-quality data. This has become increasingly important as firms’ regulatory reporting faces greater scrutiny and higher frequency of fines. More comprehensive and intelligent compliance strategies are needed.

Answering the ‘Why?’: Droit and KOR’s new Global Regulatory Reporting Platform
KOR and Droit have come together to address persistent industry challenges amidst evolving regulatory change to offer an integrated, end-to-end global trade and transaction reporting platform. The result is unparalleled transparency and control across each processing stage for accurate, compliant, and timely reporting.

As an innovative provider of regulatory solutions for the derivatives market, financial institutions choose KOR for its advanced technology designed with compliance, performance, and evolution at its heart. KOR helps clients reduce risk by empowering them in all aspects of reporting – from data collection, validation, submission, reconciliation, and exception management. Complementing this, Droit’s Adept decision engine offers trusted and consensus-driven eligibility rulesets for reporting obligations, the same eligibility rulesets used in its Trade and Transaction Reporting product for tier-1 global banks.

By embedding Droit’s trusted Trade and Transaction Reporting eligibility service in KOR’s modular, end-to-end platform, organizations can achieve insights and control across each stage of the reporting process at an unprecedented level. In this cutting-edge “completeness check”, KOR validates the data being sent to the regulator in terms of data fields and formats, while Droit verifies if everything that should be reported has indeed been reported. The solution provides an audit record of the evaluation for each and every transaction – answering the ‘Why is it so difficult to achieve 100% completeness?’ question – so any data issues coming to light can be quickly identified for correction.

Empowerment through transparency
This partnership brings together the respective knowledge and capabilities of each company, and industrializes the regulatory updates into KOR’s SaaS platform. KOR is all about empowering its clients through user experience and transparency, and the joint solution now Droit’s brings best-in-breed capabilities for eligibility rulesets.

To date, Droit’s industry-leading service has typically been implemented on-premise by larger firms with their own IT teams. The provision of Droit’s eligibility services to clients through KOR’s platform, and a single license fee, makes this new standard for reporting capabilities more accessible to the wider market.

By partnering, Droit and KOR provide unparalleled transparency and control across each processing stage, helping firms submit complete and accurate reports in a timely manner, every single day.