Cappitech, a provider of automated regulatory reporting technology, has expanded into Australia.
The RegTech 100 company has integrated its trade reporting product with the CME Group’s trade repository in Australia. As a result, ASIC regulated investment firms can leverage the Cappitech’s source system integration, data transformation, data validation and submission analytics technology to comply with ASIC Derivative Reporting requirements
The integration also extends the company’s existing cooperation with the CME Group on its European Trade Repository (ETR) that supports EMIR reporting. According to data provided by the RegTech, since 2016, over 500 million trades have been submitted to the ETR.
“The integration allows our customers with ASIC reporting obligations to comply with their Australian regulatory requirements with ease,” said Ronen Kertis, founder and CEO of Cappitech.
“The backbone of Cappitech is built on providing an enhanced regulatory reporting platform and analytics capabilities using our innovative technology coupled with ease of reporting to a variety of Trade Repositories and ARMs.”
CME Group is a diverse derivatives marketplace, offering a range of global benchmark products across all major asset classes. It brings buyers and sellers together through its CME Globex electronic trading platform and also operates one of a central counterparty clearing providers through CME Clearing.
Jonathan Thursby, executive director, head of global repository services, CME Group, added: “With Cappitech’s connection into CME Group’s Australian Trade Repository, we are now well positioned to tap the increased client demand for integrated end to end solutions and further help our clients in Australia fulfil their derivative trade reporting requirements.”
Through CapptivateTM, Cappitech’s regulatory service platform, customers can automate submission and analyse their daily trades to comply with international financial transaction reporting obligations. The cross-regulation platform uses state-of-the-art technology to provide a unified experience for all regulatory reporting along with an industry leading analytics dashboard to process and audit review compliance reports.
Last month, the RegTech closed its Series A round on $4m, with investment led by 83North and featuring participation from Rony Grushka and Kevin Gould, co-founders of Markit.
The funding came nearly a year after Cappitech was hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2018. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
