Sapient Global Markets clients can now achieve a unified view of compliance across systems, asset classes and geographies with a new compliance management and reporting system.
The system, called CMRS directly addresses OTC swaps data reporting requirements from regulations including the Dodd-Frank's Title VII, European Market Infrastructure Regulation (EMIR), and the Regulation on Energy Market Integrity and Transparency (REMIT). It allows firms to collate vast amounts of data from disparate systems, translate it into the destination message format, deliver it directly to regulators and receive acknowledgement messages back from Swap Data Repositories (SDR).
Designed for firms doing business across borders, CMRS connects to all major trading and risk management systems that process high volumes of swaps and other OTC products. It is SDR agnostic and is the only system to date that collects and normalizes data from multiple sources before transforming it into formats accepted by regulatory reporting destinations. It is this end-to-end capability that ensures firms concerned with swap data reporting have a single view of compliance regardless of operating model and required reporting venue.
"With regulatory reporting deadlines upon us as soon as July, firms must achieve a single view of their compliance status and a streamlined method of translating data from multiple sources into the format required by regulators," said Arun Karur, Vice President at Sapient Global Markets. "CMRS is a key system for firms looking to meet their regulatory reporting commitments efficiently and on time. Sapient Global Markets experience working with market participants, intermediaries and regulators uniquely positions us to both develop and deliver this to market."
CMRS establishes a common enterprise platform to manage and publish reporting requirements to various regulatory agencies. It enables customers to configure reporting rules, manage varied data sources, apply filtering, exception and aggregation rules and configure destination reports in the required format. It also allows clients to trace and track data being reported throughout the compliance reporting lifecycle providing much needed visibility into compliance positions at any point in time.
Built using industry standard technologies to facilitate quick and easy integration with internal systems, CMRS can be delivered as an out of the box addition to trading and risk management solutions. It can also be adopted as three separate modules designed to extract, transform, and report.