Impendium Systems, a leading provider of regulatory applications to financial and non-financial organizations throughout the world is pleased to announce that another customer has chosen the Elements Platform to meet their regulatory obligations.
The customer - the German Legal Entity of a large US Global Custodian, based in Munich with major operations in throughout the world - has deployed the Elements Platform to provide data for its Federal Financial Supervisory Authority Derivative regulatory reporting obligations.
Impendium Systems' Technical Director, Rory McLaren comments: "By choosing the Elements Platform for regulatory reporting, the customer has dramatically reduced risk in its derivative reporting process to the German Federal Financial Supervisory Authority. Furthermore, by choosing Elements the customer is well placed to accommodate the European regulatory requirements - FINREP & COREP - when they are introduced over the next 12 months".
The Elements Platform integrates to the existing customer IT landscape, consuming derivative data and automating the complex calculations necessary prior to reporting. In addition, Elements integrates to Bloomberg DataService for external pricing valuations for underlying instruments.