Banco Santander has appointed IHS Markit to report over-the-counter (OTC) derivatives trades to multiple jurisdictions with its global regulatory reporting solution platform.
IHS Markit enables financial institutions to report OTC and exchange-traded derivatives trades to regulators across the globe via multiple trade repositories, approved reporting mechanisms (ARMs), and approved publication arrangements (APAs).
The system manages the end-to-end reporting and reconciliation workflow by automatically capturing, normalising, calculating, enriching, transforming, and submitting the required information to trade repositories.
It can also reconcile trade repository data with a firm's in-house and external data sources.
IHS Markit's Integrated Reporting platform manages all functional requirements for trade reporting such as cross-asset coverage, valuation and collateral reporting, reconciliation, and multi-jurisdiction support.
This also includes G20 jurisdictions such as the European Market Infrastructure Regulation, the second Markets in Financial Instruments Directive, and the Securities Financing Transaction Regulation.
Pierre Khemdoudi, senior vice president, equities and regulatory reporting, IHS Markit, comments: "The IHS Markit team is delighted to be working with Banco Santander.”
Khemdoudi says: "The Banco Santander team has demonstrated its commitment to operational efficiency throughout our engagement, coupled with a powerful command of financial market standards. We look forward to working in partnership to roll out IHS Markit's trade reporting solution."
Elsewhere, IHS Markit’s thinkFolio has joined forces with Wave Labs to deliver insights and operating efficiencies to fixed income managers.
