Exchange Traded Derivatives Reporting
Precisely identify and manage reporting obligations – ready for submissions
Overview
Droit’s end-to-end quality assurance solution for Exchange Traded Derivatives Reporting to clearing houses & exchanges provides a flexible understanding of reporting eligibility and obligations and reconciliation of aggregate positions. This allows front office and middle office teams to fully focus on client opportunities, comfortable that reporting obligations have been fulfilled.
Why the need for Droit’s Exchange Traded Derivatives Reporting
Recent regulatory scrutiny of position-based reporting obligations to clearing houses and exchanges have put pressure on clearing firms to improve their reporting workflows. Many clearing firms are saddled with archaic and opaque infrastructure with very little traceability, transparency, and auditability. The legacy reporting infrastructure leads to time-consuming report validation and remediation to rectify incorrectly generated or submitted reports.
This of course adds to the cross-functional team and system challenges associated with determining, with clear evidence, client readiness. This includes clarity on compliance obligations and instant feedback on status to help navigate the right clients to the right products.
Why the need for Droit’s Client Readiness
Regulators are increasing expectations and demands on financial institutions, one of which is that preventative measures and detective controls should be in place much earlier in the client trade lifecycle. This of course adds to the process and system challenges associated with determining client readiness, including clarity on compliance obligations and instant feedback on status to help navigate the right clients to the right products.Key Features and Capabilities
Reduces operations overhead by getting reporting correct the first time. Enables faster remediation of errors.
Facilitates investigation and root cause analysis of errors with a comprehensive Reporting Workbench dashboard.
Provides detailed traceability for simplified reviews, both internally and externally.
Ensures the structure and content of reports meet regulatory standards, and is tied to the regulatory text.
Centralizes QA checks across disparate reporting requirements into a single control layer.
Grants early access to rule updates through sandbox testing for smoother integration testing and easier reviews and approvals of new and updated mandates.