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ICBC selects AxiomSL for Emir OTC transaction reporting

18 February 2014  |  1602 views  |  0 Source: Axiom Software Laboratories

Axiom Software Laboratories, Inc. a global provider of regulatory reporting and risk management solutions, today announced that ICBC (London) Plc. has selected AxiomSL for its European Market Infrastructure Regulation (EMIR) over-the-counter (OTC) transaction reporting.

ICBC London will leverage AxiomSL's ControllerView to deliver all European Securities and Markets Authority (ESMA) EMIR Transaction reporting on a single integrated platform.

Following the successful implementation of IntegrationCenter™ for dynamic data management and Basel123™ for capital calculations, ICBC London extended its partnership with AxiomSL. The data-driven management and integrated regulatory reporting platform will enable ICBC London to meet complex bank requirements with greater speed, transparency, accuracy and level of detail. AxiomSL's unique framework, which provides flexibility and scalability in merging ICBC London's models, delivers data transformation, calculation and reporting processes transparency to satisfy incumbent regulations including EMIR, Basel III and Capital Requirements Directive (CRD) IV regulatory reporting. By leveraging the comprehensive solution, ICBC London will benefit from an integrated approach, ensuring fast delivery, maximum data integration and reconciliation while minimizing infrastructure and implementation costs.

"ICBC London's partnership with AxiomSL underscores our commitment to delivering a simplified and standardized platform for all regulatory disclosures," said Lingyan Kong, Deputy General Manager of ICBC London. "We've selected AxiomSL's platform for its integrated data management approach, providing greater reporting transparency and flexibility for our clients while streamlining operating costs."

"We are delighted to extend our partnership with ICBC London. Global banks such as ICBC London must adapt to a wide range of new regulations and data quality processes to tackle the effects of inaccurate reporting and reduce spending on reconciliation process," said David Attenborough, Head of EMEA Sales, AxiomSL. "AxiomSL's strategic data-driven platform empowers firms such as ICBC with a sound regulatory reporting infrastructure designed to address complex UK regulatory requirements and is flexible to adjust as these mandates continue to evolve." 

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