Sapient Global Markets will be further enhancing its Compliance Management and Reporting System (CMRS) to support collateral and valuation reporting.
From 12 August, firms will have to report collateral and valuation information on a transaction level (over-the-counter), position level and collateral valuations on a portfolio level.
As a single solution, CMRS will ease firms reporting requirements, from regulations such as the European Market Infrastructure Regulation (EMIR) and the Dodd-Frank Act, from many systems into one. The information collected will be reported to the Depositary Trust & Clearing Corporation, REGIS-Trade Repository (TR) and UnaVista TRs.
The solution facilitates firms to report transaction, valuation and collateral on its own, on behalf of a counterparty, or as a delegated reporting service to its end clients.
Arun Karur, vice president of Sapient Global Markets, said: “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.”
He added: “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.”
