DTCC has connected its Global Trade Repository (GTR) service to REGnosys’ Rosetta platform. The collaboration aims to support the testing of ISDA’s digital regulatory reporting (DRR) requirements.
Rosetta will be connected to the testing environment of DTCC’s GTR, enabling the assessment of accepted trade reporting submissions made using the ISDA DRR.
Leo Labeis, CEO of REGnosys, says: "In a context of rapidly evolving global trade reporting requirements, this is the next step towards offering our clients certainty and effectiveness in hitting compliance deadlines”.
ISDA DRR uses the common domain model to convert market practices and trade reporting rules into machine-executable code. This data is transformed into the ISO 20022 format.
Scott O’Malia, ISDA’s chief executive, explains: “Using the ISDA DRR brings greater accuracy and efficiency to regulatory reporting and enables firms to comply with reporting rule changes in multiple jurisdictions at scale, so we’re delighted that DTCC and REGnosys are supporting industry adoption by enabling the validation of trade reporting submissions generated with the ISDA DRR by the Global Trade Repository.”
Syed Ali, managing director of DTCC repository and derivatives services, adds: “As more and more firms consider how to simplify their architectures, this is the next step towards providing a streamlined, standard trade reporting generation application that evolves as rules evolve along with machine-readable regulatory requirements, from a single source.”
