TR Completeness for EMIR
February 5, 2020
Control Now have extended their TR Completeness service for end to end reconciliations to EMIR.
The service supports firms to meet their legal requirement to ensure the Trade Repository has received their data completely, as required by Artiocle 9 of EMIR refit;
“Counterparties that are required to report the details of derivative contracts shall ensure that such details are reported correctly”
The service includes;
- Reporting Compliance Review: Business model review, business specific compliance review, systems review
- Technical Specification: Specification for system build for accurate MiFIR & EMIR reporting. Interpretation for business and technical teams. All logic decisions documented with reference to regulatory text.
- Parallel System Build: In parallel to internal development or outsourcing to a service provider, CN will build a parallel system.
- Ongoing reconciliation: Hand over of parallel system for ongoing reconciliation at firms discretion. Unlimited licence for users and volumes of reconciliation.
The service is a fully automated solution which reduces the overheads investment firms need to employ to meet their legal requirement and has the following benefits;
- Full end to end system documentation.
- Reduced cost for future change management.
- Mitigation of risk of future remediation.
- Meet EMIR REFIT Article 9 legal requirements.
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