Eurobase, a provider of treasury management solutions, sales desk and customer trading portals, has extended its MiFIR trade and transaction reporting function.
The company has upgrade the reporting function for its customers to include Bloomberg’s Regulatory Hub (RHUB), which offers a full service platform that connects to the Bloomberg APA and Approved Reporting Mechanism (ARM) to help firms comply with their regulatory reporting-related obligations.
In January 2018, Europe updated the Markets in Financial Instrument Directive (MiFID II) and the accompanying Regulation (MiFIR) came into force. MiFIR aims to make financial markets more open, efficient, resilient and transparent.
Following the implementation of the regulation, firms are now seeking to modify their existing tactical approaches that primarily prioritised the post-trade transaction reporting needs, to also ensure full pre-trade and best execution monitoring in the front office.
Eurobase’s Regulatory Reporting solution, dubbed siena, has been deployed to meet its customers’ compliance needs as their business and reporting obligations grow. As a fully automated pre- and post-trade data aggregation hub, siena supports real-time reporting and best execution monitoring. It also covers other compliance regulations such as EMIR reporting and is currently being extended to cater for the upcoming SFTR requirements.
Following the agreement between Bloomberg and Eurobase, RHUB will take trade feeds from siena in real-time. It enriches them with static reference data, validates them, identifies reportable securities, and sends the required reports to Bloomberg’s reporting destinations (ARM, APA) as well as external reporting destinations.
Joe Locke, CEO Banking and Insurance Solutions, commented, “We recognise that a customer’s obligations under MiFIR might change as their business evolves, often at very short notice. Through our collaboration with Bloomberg, our customers can connect to Bloomberg’s comprehensive regulatory reporting framework and be ready to select additional services when required.”
In March, RBC Capital Markets added Bloomberg’s evaluated pricing service (BVAL) to its list of vendors that will independently verify prices on its municipal bond holdings.
Rheos Capital Works, a privately-owned boutique investment manager based in Tokyo, also recently selected Bloomberg’s buy-side solutions. The firm, which has investment focus on Japan as well as global equity markets, selected the service to optimise operational workflow in research and compliance management.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
