NEX Optimisation announces the launch of NEX Regulatory Reporting, an end-to-end regulatory reporting platform
09 March 2017
London, 9 March 2017 – NEX Optimisation, which helps clients simplify complexity and optimise their resources, announces the launch of NEX Regulatory Reporting. Led by Collin Coleman and powered by Abide Financial (Abide), a NEX Group business, NEX Regulatory Reporting brings together a suite of best-in-breed services under a single umbrella to offer clients an extremely powerful and versatile reporting solution. In an era of rapid regulatory and technological change, NEX Regulatory Reporting enables clients to prepare for whatever is around the corner. A single connection and a sophisticated transformation layer give access to a fully resilient, cross asset and cross jurisdictional regulatory reporting solution. NEX Regulatory Reporting provides clients with tools to manage the regulatory reporting challenges of today and tomorrow.
NEX Regulatory Reporting has a unique approach to delivering a fully comprehensive reporting service which starts with the analysis of each client’s reporting environment. Abide’s team of experts tailor a complete solution to meet the client’s needs according to jurisdiction, classification and traded instruments. The platform provides regulatory change notifications ahead of time as well as hands-on help from reporting experts to manage that change.
Clients will connect once to consume multiple NEX Optimisation services, including regulatory reporting and other Markets in Financial Instruments Directive (MiFID) services. They are then able to take advantage of a comprehensive data connector and ingestion service for every conceivable data type, which leverages NEX’s leading connectivity services. To facilitate timely and accurate reporting, Abide operates multiple approved regulatory end points. It is an Approved Reporting Mechanism (ARM) under MiFID I, and has applied to be an ARM and an Approved Publication Arrangement (APA) for MiFID II1. It is a Registered Reporting Mechanism (RRM) for the Regulation of Wholesale Energy Market Integrity and Transparency (REMIT), and aggregates reports for European Market Infrastructure Regulation (EMIR) as well as Asian derivatives reporting to the Australian Securities and Investments Commission (ASIC) and the Monetary Authority of Singapore (MAS). The company has also filed its application to become a trade repository2 for European Market Infrastructure Regulation (EMIR). As part of the NEX Regulatory Reporting service, clients are also able to leverage NEX’s extensive network to route reporting to other end point providers, while still taking advantage of the solution’s rich service layer.
NEX Regulatory Reporting’s service includes a next-generation user interface that has been designed to offer full transparency of the transaction lifecycle process along with powerful insights into underlying reporting timeliness and data quality. The service can take data from any source system and make it reporting-ready by automatically performing the necessary data enrichments and transformations that are needed for each reporting regime, as well as performing deep data validation and reconciliation to demonstrate full compliance. The fully managed, flexible solution saves clients time, effort and cost involved in ensuring regulatory compliance.
NEX Regulatory Reporting is a key part of the solutions offered by NEX Optimisation to enable clients to meet the challenges of MiFID II. As the regulation takes effect in January 2018, clients will be able to leverage NEX’s connectivity services to access a range of NEX Optimisation services so that they are able to meet their regulatory reporting obligations. NEX Optimisation continues to develop services to simplify regulatory compliance.
From ease of connection, detailed planning, enrichment and validation through to the suite of reporting endpoints, the solution makes it simple for clients to solve their compliance challenges.
Collin Coleman, CEO of Abide, said: “We are delighted to introduce this powerful platform to the industry. Clients will benefit from seamless processing of large data volumes under multiple regulatory regimes and transparent delivery of final reports to regulators via a suite of in-house regulatory end points. We will also continue to deliver the high level of service which our clients recognise us for.”
Jenny Knott, CEO of NEX Optimisation, said: “We are proud to launch NEX Regulatory Reporting as a key component of our suite of services to help our clients meet the challenges of new regulation.”
Abide is a reporting partner to over 120 clients including banks, asset managers, hedge funds, brokers and trading firms and venues.
1 Abide Financial Ltd has been registered as an ARM under MiFID since 2011. Abide Financial DRSP Ltd filed an application to be registered as an ARM and an APA under MiFID II on 17 February 2017.
2 Abide Financial Repository Ltd is expecting ESMA’s approval to become a trade repository in 2017.
Rasa Balsyte, Abide Financial
+44 (0) 20 7989 4074
Bryony Scragg, NEX Media Relations
+44 (0) 20 7818 9689
NEX Optimisation Leading the transformation of market structure, NEX Optimisation offers a portfolio of cloud-hosted services across the transaction lifecycle. Ranging from pre-execution credit checking to multilateral portfolio compression, our purpose is to simplify our clients’ workflow and help them optimise their resources. We are an integrated team of financial markets and pioneering financial technology specialists who operate in all asset classes, geographies and business sectors across the financial markets.
We are dedicated to mitigating risk, increasing efficiency, reducing costs and streamlining increasingly complex processes for our clients. We offer the opportunity to optimise both regulatory and financial resources. Find out more here.
Abide Financial Ltd A NEX Group business, Abide Financial operates within NEX Optimisation helping clients simplify complexity and optimise their resources. Our services focus on lowering costs, eliminating operational risk and improving regulatory reporting effectiveness. The NEX Regulatory Reporting Hub is designed to ingest, enrich, determine eligibility, validate, manage exceptions, route and reconcile client data, reportable under various international regimes. In addition to local European regulatory environments, Abide Financial also provides specialised reporting services for entities subject to international regulatory regimes such as Dodd Frank,ASIC (Australia) and MAS (Singapore). See more at: www.abide-financial.com
NEX Group plc offers customers better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Customers use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world’s capital markets. NEX is headquartered in London with offices worldwide. NEX. Empowering markets. For more information, go to www.nex.com