GRC to deliver comprehensive centralised solution to buy side and corporate customers for new derivatives regulatory trade reporting requirements, via REGIS-TR Trade Repository.
Partnership leverages REGIS-TR’s unique third-party reporting model, enabling third parties to report on behalf of a number of underlying clients without necessarily on-boarding each underlying entity individually.
London/Luxembourg/Paris, 9th January 2014 – Global Reporting Company (“GRC”), backed by Global Markets Exchange Group International LLP (“GMEX Group”) and REGIS-TR, the European Trade Repository owned by Clearstream (Deutsche Börse Group) and Iberclear (BME), today announced their partnership to provide buy side and corporate clients with trade reporting services, ahead of the European Market Infrastructure Regulation (EMIR) obligation to report over-the-counter (OTC) and listed derivative transactions, which comes into effect on 12th February 2014.
GRC offers firms, including corporate entities and investment managers, an end-to-end solution to address regulatory trade reporting requirements. Delivering a neutral fully outsourced service, it enables market participants to spread their trading risk by continuing to use multiple prime brokers whilst consolidating reporting tools, data mapping, process monitoring and connectivity through GRC to the REGIS-TR trade repository.
“Corporate and buy side firms can now benefit from meeting the mandatory regulatory reporting deadline through use of our easily accessible centralised solution for over-the-counter and listed derivative transactions connected into the market leading REGIS-TR trade repository,” said Hirander Misra, Chief Executive Officer of GMEX Group and Director and Co-founder of GRC.
Nicolas Boatwright, Managing Director of REGIS-TR, commented, “We are delighted that GRC have chosen to partner with us to deliver this industry leading trade reporting service to its customer base. Our approach emphasises simplicity, accessibility and predictability. We also believe having flexible participant profiles that allow any entity to participate directly and/or delegate to a third party is a significant customer benefit.”
GRC and REGIS-TR are currently on-boarding market participants to ensure early compliance with the EMIR reporting obligation. REGIS-TR currently has almost 1,000 participants to its test environment, comprising a wide variety of Pan-European financial institutions as well as non-financial entities across all corporate sectors with a reporting obligation to EMIR. Its focus on European regulation, flexibility to offer solutions to any size of business and the close support to all current participants and potential customers has ensured it is regarded as an essential link between the financial industry and the regulators' community. In November 2013, the company was amongst the first wave to be granted a license by the European Securities and Market Authority (ESMA) to operate a trade repository.
GRC and GMEX
Melanie Budden, The Realization Group, +44 7974 937 970, firstname.lastname@example.org
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About Global Reporting Company
Global Reporting Company (GRC) provides firms with a solution to address regulatory reporting requirements imposed by G20-led reforms to the derivatives markets with a focus on corporate and buy side client needs. These reforms are being enacted in Europe through the European Market Infrastructure Regulation (EMIR) and a second version of Markets in Financial Instruments Directive (MiFID II). GRC provides an effective, low touch solution allowing clients to:
GRC is based on a robust technical platform provided by Global Markets Exchange Group International LLP (GMEX Group) through its GMEX Technologies Limited subsidiary (GMEX TECH) and is supported by CoDiese’s regulatory and financial markets expertise.
GRC is jointly owned by GMEX TECH and CoDiese.
For more information, visit www.globalreportingcompany.com
REGIS-TR is a central trade repository for all derivatives transactions across multiple product classes and jurisdictions. REGIS-TR facilitates administrative tasks and helps improve the operational management of these transactions. The ability to be able to register all OTC and listed derivatives trades through one system also allows for a full overview of all positions. REGIS-TR collects and administers details of the transactions reported by users, giving market participants and regulators access to a consolidated global view of these derivative positions, an overview that was not available until now. REGIS-TR complies with all new regulatory proposals that have been made public to date and serves both financial and non-financial institutions. The trade repository delivers flexible participation levels that adapt to the diverse profiles and needs of all stakeholders and actors in the derivatives market.
Further information: www.regis-tr.com
About GMEX Group
Global Markets Exchange Group International LLP is a group of companies that offer ethical, sustainable and innovative solutions for the new era of global financial markets, encompassing:
GMEX Group stakeholders include Deutsche Börse AG and Forum Trading Solutions Limited through its investment vehicle.
For more information, visit www.gmex-group.com