Sapient Global Markets has launched a self-service trade reporting solution for firms looking for a “low touch approach” to reporting compliance.
Firms are still struggling with the onerous requirements of trade reporting, which will only be amplified by requirements of MiFID next year.
“With CMRS Portal we are providing trade compliance as an outsourced self-service, without compromising on the functionality or robustness of the underlying CMRS platform,” said Arun Karur, vice president at Sapient Global Markets.
“CMRS Portal delivers full visibility in to the reporting process and a level of assurance at a lower total cost of ownership.”
In response to regulations, the CMRS portal now supports Australian, Hong Kong, and Singaporean reporting requirements and will be extended in 2016 to support impending MiFIR/MiFID II rules.
Virginie O’Shea, senior analyst at Aite Group, spoke of how constantly changing requirements lead to increased demand for such services.
“Recent revisions by ESMA to derivatives trade reporting guidelines and the extension of the regime to other segments of the market such as securities financing mean that systems and processes must be regularly adapted to meet these new requirements,” said O’Shea.
“Managing these changes in-house means bearing these costs and complexities directly, so it is no surprise that there is demand in the market for external services in this area.”