Provides a single system for collating collateral and valuation data
and reporting to DTCC, REGIS-TR and UnaVista
Global Markets, a division of Sapient (NASDAQ: SAPE), and a leading
global provider of business technology and consulting services for the
capital and commodity markets, today announced further enhancements to
its Compliance Management and Reporting System (CMRS) to support
collateral and valuation reporting.
Starting August 12, 2014, firms must report collateral and valuation
information on transaction-level (OTC), position-level (ETD) and
collateral valuations on a portfolio-level. With multiple source systems
including, trade booking, valuation and collateral management systems,
firms must collate and consolidate a vast array of disparate
information, and then report in the specific configuration required for
each trade repository (TR).
“There are numerous, significant data challenges inherent in the trade
reporting process, not least of which is the aggregation of data from
numerous different sources across a firm,” said Virginie O’Shea, senior
analyst at Aite Group. “Given the issues the industry faced earlier in
the year with the EMIR deadline in February and the lack of common
standards for reporting across trade repositories, similar internal
reconciliation and reporting challenges are likely to occur for the
valuations and collateral component, especially when acting on behalf of
CMRS is a proven, single reporting solution that integrates disparate
valuation and collateral sources, enriches the incoming information by
providing necessary reference data management and reports to the DTCC,
REGIS-TR and UnaVista TRs. It facilitates firms to report transaction,
valuation and collateral on its own, on behalf of a counterparty, or as
delegated reporting service to its end clients.
It also offers a highly flexible approach to reporting, with the ability
to switch TRs, and removing the need to rebuild reporting solutions if
firms want to move from their incumbent TR to take advantage of
competitive pricing. For smaller firms who have retained reporting
in-house, CMRS is available as a hosted model, delivering a cost
effective approach to regulatory reporting compliance.
“In our discussions with market participants it is apparent that they
are looking for a single solution to address the various reporting
regimes and support their firms during a period of unprecedented change.
In creating CMRS, we recognized that both EMIR and Dodd-Frank
requirements could be used as the building blocks to create a consistent
approach to the various facets of the trade reporting process,” said
Arun Karur, vice president, Sapient Global Markets. “The addition of
collateral and valuation functionality is a natural extension of CMRS.
It enables firms to centralize their external communications and
compliance efforts to achieve a single view of their compliance status.
When combined with a streamlined method for identifying trades to be
reported and translating data from multiple sources into the specific
format, CMRS offers a compelling choice for supporting Dodd Frank and
EMIR reporting requirements.”
About Sapient Global Markets:
Sapient Global Markets, a division of Sapient® (NASDAQ: SAPE), is a
leading provider of services to today’s evolving financial and commodity
markets. We provide a full range of capabilities to help our clients
grow and enhance their businesses, create robust and transparent
infrastructure, manage operating costs, and foster innovation throughout
their organizations. We offer services across Advisory, Analytics,
Technology, and Process, as well as unique methodologies in program
management, technology development, and process outsourcing. Sapient
Global Markets operates in key financial and commodity centers
worldwide, including Boston, Calgary, Chicago, Dusseldorf, Frankfurt,
Houston, London, Los Angeles, Milan, New York, Singapore, Washington
D.C. and Zurich, as well as in large technology development and
operations outsourcing centers in Bangalore, Delhi, and Noida, India.
For more information, visit www.sapientglobalmarkets.com.
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those related to the development of software and related services and
potential sales to clients — that involve a number of risks and
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actual events to differ materially from those indicated, including,
without limitation: a reduction in the demand for the company's services
in light of the current or future economic environment; the company's
ability to accurately set fees for and complete projects on a timely
basis; the acceptance of the company's services; changes in Federal
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limitation the most recent Annual Report on Form 10-K and Quarterly
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Sapient is a registered service mark of Sapient Corporation.
Sapient Media Contact:
Sapient Global Markets
Whitehouse, +44 (0) 207 456 6550
Source: Sapient Global Markets