REGULATION

NEX launches Abide-powered regulatory reporting platform

NEX Optimisation launches cross jurisdiction regulatory reporting with Abide Financial.

By Hayley McDowell hayley.mcdowell@strategic-i.com March 09, 2017 10:51 AM GMT

NEX Group’s Optimisation business has bundled its services together to launch a regulatory reporting platform powered by Abide Financial’s technology.

Through a single connection, users will have access to cross asset and cross jurisdiction regulatory reporting services. 

The platform includes a next generation interface designed to offer full transparency of the transaction lifecycle process and data.

It takes data from any source system and makes it reporting ready for any reporting regime, whilst performing data validation and reconciliation. 

Abide Financial, which is owned by NEX Group, now operates as an approved reporting mechanism (ARM) under MiFID and has applied to become an ARM and approved publication arrangement under MiFID II.

NEX Group said from ease of connection, detailed planning, enrichment and validation through to the suite of reporting endpoints, the solution makes it simple for clients to solve their compliance challenges.

Collin Coleman, CEO at Abide Financial, explained clients will benefit from “processing of large data volumes under multiple regulatory regimes and transparent delivery of final reports to regulators via a suite of in-house regulatory end points. “

NEX Group acquired Abide Financial in October and it was incorporated into the post-trade risk and information services business.