SmartStream Helps Clients With ESMA’s Demands for Increased Data Checks
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announces a new regulatory solution, Trading Venue Quantitative Reporting Outlier Reconciliation - helping firms to further meet MiFID II obligations, including assisting trading venues (non-OTC) to fulfil MiFID II RTS 2 transparency requirements.
Post-Brexit, ESMA has increased the data continuity checks that trading venues must perform when reporting instrument reference and quantitative data. Any irregularities must be accounted for and mistakes re-reported, so that ESMA can meet its timelines in publishing instrument liquidity, size-specific-to-the-instrument, and large-in-scale calculations. At present, trading venues typically check their records retrospectively, on a three-month basis, against massive ESMA data files. This highly complex exercise is costly and accompanied with a huge operational burden.
Jethro MacDonald, Product Manager - Innovations Lab, SmartStream, states: “Financial authorities’ appetite for delving into trading venues reporting is growing, and they are doing so with an increasingly critical eye. Complying with the data continuity checks of ESMA is both complex and costly, and this is placing a real strain on trading venues. In response, market participants should take advantage of the sophisticated tools now available, including AI-enabled reconciliations solutions and regulatory reference data – which is straightforward to tap into as cloud-based APIs, and offer a very useful means to help alleviate the regulatory burden trading venues find themselves under”.
SmartStream’s new regulatory solution will alleviate the burden for a trading venue who can now submit a single daily file of instrument quantitative data to SmartStream Air (AI Reconciliations). It then reconciles this with the instrument reference data for the trading venue, consumed directly from ESMA. SmartStream Air also deploys instrument CFI codes from the SmartStream RDU (Reference Data Utility), which it will use to check that the instrument included on the reference data report is not one reportable under the quantitative transparency reporting regime, this process is carried out proactively and daily.
About SmartStream Technologies
SmartStream is a recognised leader in financial transaction management solutions that enable firms to improve operational control, reduce costs, build new revenue streams, mitigate risk and comply accurately with the regulators.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Shamira Alidina, Media Relations Director, Dina Communications
Tel: +44 (0) 7801 590718
Nathan Gee, Marketing Director, SmartStream Technologies
Tel: +44 (0) 20 7898 0630
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Dental Monitoring Launches the Virtual Practice Platform for a Comprehensive, Life-Long Patient Experience18.5.2022 22:10:00 CEST | Press release
Dental Monitoring, the industry-leading company that pioneered the field of intelligent orthodontics, launches the Virtual Practice Platform for a comprehensive, life-long patient experience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220518006088/en/ More information: (Photo: Business Wire) This groundbreaking Virtual Practice Platform is designed for doctors and patients to partner along the entire treatment journey through a suite of intelligent workflows and tools. By using the platform, doctors will be able to identify, engage, qualify, and convert leads, optimize treatment and monitor patients, as well as benefit from opportunities for new revenue streams. Dental Monitoring is launching the Virtual Practice Platform as the increasing need for remote and intelligent care in the dental industry meets growing patient expectations. Through the platform, the SaaS company aims to spearhead widespread transformation for p
Align Announces Additional Leadership for UK and EMEA to Support Continued Growth18.5.2022 17:11:00 CEST | Press release
Align, the premier global provider of technology infrastructure solutions celebrates significant growth throughout the UK and EMEA markets with management changes to support increasing demand. The appointment of Giulia Marcolina as Managing Director and Mike Konold as AV Solutions Director of Align’s UK-based headquarters, will enable the team to deliver innovative collaborative technology and state-of-the-art AV solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220518005833/en/ Giulia Marcolina, a 15 year veteran with Align, is named Managing Director of Align's UK-based headquarters. (Photo: Business Wire) Giulia brings over 25 years of IT experience, previously serving as Align’s Programme Manager, delivering corporate office relocation and consolidation projects for clients such as Blackrock, Total Gas and Power, and UBS. In her new role, she will lead Align’s team of project managers in building upon Align’s lon
RMS Advances Climate Risk Modeling and Moves More Models to High Definition18.5.2022 16:30:00 CEST | Press release
RMS®, a Moody’s Analytics company and world-leading risk modeling and solutions company, today announces it will be releasing four new High Definition™ (HD) models, including Europe Windstorm, North America Winterstorm (WT), North America Severe Convective Storm (SCS), and Terrorism. RMS HD Models represent the next generation of risk modeling, delivering deeper analysis and granularity from Moody’s. The HD probabilistic models incorporate a high-fidelity, simulation-based framework for modeling event frequency and severity, to provide a major step forward in the quality of catastrophe risk quantification. The framework allows for event footprints to be represented more realistically across larger event sets. The new RMS Europe Windstorm HD Model further enhances the current model and will cover 17 countries, adding Finland and Lichtenstein. The HD model includes a climate variability view and has expanded storm surge analytics to include the U.K., Ireland, France, and Belgium. Storm c
Suketu Upadhyay Elected to Vertex Board of Directors18.5.2022 16:30:00 CEST | Press release
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that Suketu (“Suky”) Upadhyayhas been elected to its board of directors as an independent director. Mr. Upadhyay is a global business executive with more than 20 years of experience in the pharmaceutical and medical technology sectors, serving in financial and strategy roles covering multiple areas of the life sciences sector. He is currently the Executive Vice President and Chief Financial Officer of Zimmer Biomet, a leading global innovator and manufacturer of orthopedic solutions, a position he has held since July 2019. “We are delighted to have Suky join the Vertex Board. His extensive financial and strategic experience in health care, paired with his leadership and expertise across biopharma and medtech, make him a valuable addition to our board of directors,” said Reshma Kewalramani, M.D., Vertex’s Chief Executive Officer and President. “It’s an honor to join Vertex, a company focused on serial innovation with an
Armory Makes Continuous Deployment Achievable and Effortless, at any Scale, for all Developers18.5.2022 16:17:00 CEST | Press release
Armory, the Continuous Deployment company empowering development teams to easily, reliably, safely, and continuously deploy software at any scale, today announced public early access to their new Continuous Deployment-as-a-Service product. Armory Continuous Deployment-as-a-Service delivers declarative deployments, across multiple environments, that support advanced strategies, so developers can focus on building great code rather than deploying it. “We believe deploying software continuously, at any scale, should be achievable and effortless for all developers of the world, not just the likes of Google and Netflix,” said Jim Douglas, President and CEO, Armory. “It’s our vision and mission to unlock innovation through software to make software continuous, scalable, secure, and safe, so developers can improve and protect their customers’ experience with confidence and ease.” To effectively compete in a software-defined world, development teams must ensure a stellar customer experience. S
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom