Deutsche Börse Group has enlisted The SmartStream Reference Data Utility (RDU), for its new Regulatory Reporting Hub.
SmartStream RDU will deliver reference data for Deutsche Börse's regulatory offering, including data from the European Securities and Markets Authority (ESMA) and the global legal identifier foundation.
In addition, SmartStream RDU has launched a new Systematic Internaliser Register, a service developed alongside Deutsche Börse, intended to address a gap in regulatory protocols under the second Markets in Financial Instruments Directive II (MiFID II).
The new register allows systematic internalisers to publish the financial instruments they will offer, allowing them to be more easily identified within the Regulatory Reporting Hub.
According Georg Gross, head of regulatory services at Deutsche Börse, the new reporting hub will allow sell-side and buy-side clients to more easily meet regulatory obligations, “resulting in lower overall administrative costs for our users”.
Gross said: “Fully-fledged and validated reference data is a key prerequisite of regulatory reporting. By collaborating with SmartStream RDU we are able to offer a comprehensive offering via our hub, which meets all regulatory requirements, and processes are simplified.”
He added: “The SmartStream RDU Systematic Internaliser Register in particular, will be extremely valuable to our clients since it eliminates the need to bilaterally communicate systematic internaliser status in trade messages.”
Peter Moss, CEO of the SmartStream RDU, said: “The SmartStream RDU delivers complete, accurate and timely reference data for use in critical regulatory reporting, trade processing and risk management operations, dramatically simplifying and reducing unnecessary costs for financial institutions.”
