Reporting Overview

In the build-up of the financial crisis of 2008 that swept across financial markets all over the globe, wreaking havoc in its path and destroying vast amounts of wealth that took decades to build, regulators around the world woke up groggy, helpless and hammered by the scale of the deficiencies and failures in the financial system that went undetected under their radars for years.

Regulatory Reporting

The ever-increasing complexity of financial products and markets alongside the continuous growth of global trade volumes have caused a lack of risk transparency over the course of the last decades.

At the onset and following the global financial crisis, these distressing shortcomings have become center stage. Neither the supervisory authorities nor the financial market participants were able to assess the extent of the risks and dependencies in a timely manner and comprehensively.

New Regulatory  Environment

The legal measures undertaken for the restoration of stability and faith in the financial system since the crisis have ushered in a significant paradigm shift: A new regulatory environment where no financial market, no financial market participant and no financial product shall be excluded from appropriate and stringent regulatory supervision.

For these regulatory reporting standards to be effectively implemented, the respective regulators have to be provided in a timely manner with the relevant information detailing business transactional volumes and key figures of all trades undertaken. Several regulations, including legislated schedules specifying regulatory reporting obligations have also recognized flaws, both in the area of exchange traded and over the counter (OTC) trading as well as securities financing business, which have also been addressed appropriately.

Types of Introduced Regulations

Most Regulators in the developed economies such as the US, EU, UK, Canada, and Switzerland introduced sweeping regulatory reporting obligations, which are aimed
at policing the markets, forcing all Financial Markets Participants to disclose and report vast amounts of trade data pertaining to their transactions.

The following regulations, among others, include several transaction-based regulatory requirements, as well as risk-reducing measures such as clearing, collateralization
and trading venue duties:

  • Markets in Financial Instruments Directive II / Regulation (MiFID II, MiFIR)

  • FATCA and CRS
  • European Market Infrastructure Regulation (EMIR)

  • Swiss Financial Market Infrastructure Act (FMIA)

  • Money Market Statistical Reporting (MMSR)

  • Securities Financing Transactions Regulation (SFTR)

These regulations have come about in order to create transparency and to identify systemic risks and imbalances in the financial markets at an early stage.

Regulatory Reporting Platform

Due to the massive amount of Data Reporting obligations for various financial products and markets, which all have their own specifically defined reporting subjects and scope, investment firms and fund managers are facing the challenge to cope with all the regulatory reporting requirements and to maintain a flexible and ideally redundancy-free data storage.

Cleartrust Data Analytics with its partners have addressed most of these pain points and concerns by leveraging the power of its state of the art platform to provide a turnkey and modular solution that deal with the requirements of any transaction-based regulatory reporting.

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