A new solution for derivatives transaction and position reporting under ASIC’s reporting requirements has launched in Australia.
NEX Regulatory Reporting, a NEX Group business, has just launched the solution to provide Australian firms with a full end-to-end transaction reporting solution to licensed trade repositories.
Clients using the solution will receive an evaluation of their ASIC transaction requirements before connecting to the NEX Regulatory Reporting Hub where the data will undergo normalisation before being delivered to CME group or DTCC ASIC licensed trade repositories.
Head of NEX Regulatory Reporting Joanna Davies said they were pleased to introduce themselves to the Asia-Pacific market.
“As we expand our Asia-Pacific regulatory coverage, we’re pleased to launch our ASIC solution, which will provide both snapshot and full lifecycle reporting to both CME Group and DTCC ASIC licensed trade repositories,” she said.
Ms Davies said it was important that people had access to technology that could handle more data and increased reporting requirements.
“With the potential for certain derivatives to require full lifecycle reporting in the future, it is important that counterparties have access to a solution that is set up to handle a higher volume of data and the management of exceptions in preparation for increased reporting requirements,” she said.
Executive director and head of Global Repository Service for the CME Group Jonathan Thursby said that reporting firms connecting to CME group benefited everyone.
“Now with connectivity to NEX Regulatory Reporting’s comprehensive suite of reporting capabilities, we are well-positioned collectively to provide our clients a total solution with clear benefits, even in the most complex environments,” he said.