Gmex Tech and CoDiese launch trade-reporting service for derivatives

Source: GMEX Technologies

GMEX Technologies ("GMEX TECH"), a wholly owned subsidiary of Global Markets Exchange Group International LLP ("GMEX Group") today announced that it has launched Global Reporting Company Limited ("GRC") in partnership with Paris based regulatory and market infrastructure advisory firm CoDiese.

GRC offers firms an end-to-end solution to address regulatory trade reporting requirements imposed by G20-led reforms to the derivatives markets with a focus on corporate and buy side client needs. These reforms are being enacted in Europe through the European Market Infrastructure Regulation ("EMIR") and come into force on 12th February 2014. They will require the mandatory reporting of both listed and OTC derivatives trades and apply to all types of market participants including corporate entities and investment managers. 
GRC delivers a neutral fully outsourced service, that provides reporting tools, data mapping, process monitoring and connectivity to the trade repository. This adds value to the client by freeing them from the operational & regulatory watch burden whilst satisfying their regulatory reporting requirements.
"We have launched Global Reporting Company to provide corporate and buy side firms with an independent and cost effective solution to report their derivatives trades in conformance with incoming regulations." said Hirander Misra, Chief Executive Officer of GMEX Group and Director and Co-founder of GRC.
"GRC provides a neutral reporting point from the end client to the trade repository whilst protecting business confidentiality," said Marie-Hélène Crétu, founding partner of CoDiese and Director and Co-founder of GRC. "This offers an easily accessible delegated service to satisfy mandatory derivatives trade reporting obligations," added Sophie Langlois, founding partner of CoDiese and Director & Co-founder of GRC.

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