CN Transition Services

June 5, 2020

With the recent news that CME are closing their regulatory reporting services in November 2020, there will be a lot of firms now looking to assess their options for reporting their MiFIR and EMIR data.

Control Now are offering a combination of their TR Accuracy tool, ongoing TR Completeness reconciliation services and bespoke consultancy to support investment firms with their legal requirement for complete and accurate reporting.

This is the solution to take if you want to own and control your reporting process.

“Investment firms shall have responsibility for the completeness, accuracy and timely submission of the reports which are submitted to the competent authority”

(MiFIR Article 26 (7))

What is included;

  1. Reporting Compliance Review: Business model, compliance & systems review.
  2. Technical Specification: Specification for system build. Interpretation for business and technical teams.  All logic decisions documented with reference to regulatory text.
  3. Parallel System Build: Parallel system to reporting solution.
  4. Parallel System Testing: Full testing of reporting solution.
  5. Accuracy Testing: Use of TR Accuracy service.
  6. Action log management: Documentation of all reporting errors. Support to development teams (internal / external) to correct issues.
  7. System sign off: Iterative testing until TR accuracy rate = 100% (Industry average = 45% for MiFIR and 35% for EMIR).
  8. Ongoing reconciliation: Ongoing reconciliations at firms discretion. Unlimited licence for users and volume.

Factsheet Download: CN_TRC_TransitionServices

 

Please contact us if you are would like to discuss the service in more detail.

Phone: 0203 286 8889

Address: 71-75 Shelton Street, London, WC2H 9JQ

Email: info@control-now.com