The two firms have collaborated since 2019 when IHS Markit selected Cappitech’s platform for its securities financing transactions regulation (SFTR) solution.
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New and changing regulations, CME Group’s decision to exit regulatory reporting, and the pandemic were key reasons for transaction reporting failures.
The vendor-led porting covered all relevant trade reporting data from CME following the announcement that it would be transitioning out of the market as a repository.
Cappitech has extended its end point network with DTCC to support Monetary Authority of Singapore (MAS) OTC derivatives reporting.
Compliance technology providers Red Deer and Cappitech will offer each other’s services to their respective clients for a more integrated solution.
Firms are at risk of fines for MiFID II transaction reporting failures, as almost 70% state they have received no feedback at all from regulators on submissions.