Nex Launches New Regulatory Reporting Platform
The solution, supported by Abide Financial, will offer an array of services on a single platform.
The platform is customizable according to the needs of each client depending on jurisdiction, classification and traded instruments. It also notifies users of any regulatory changes, and offers help from reporting experts.
According to Nex, clients will connect and be able to use a comprehensive data connector and ingestion service for every conceivable data type.
To facilitate timely and accurate reporting, Abide Financial operates multiple approved regulatory end points. Abide is a Registered Reporting Mechanism (RRM) for the Regulation of Wholesale Energy Market Integrity and Transparency (Remit), and aggregates reports for European Market Infrastructure Regulation (EMIR) as well as Asian derivatives reporting to the Australian Securities and Investments Commission (ASIC) and the Monetary Authority of Singapore (MAS). The company has also filed its application to become a trade repository under EMIR.
The platform’s user interface is designed to offer full transparency of the transaction lifecycle process along with insights into underlying reporting timeliness and data quality.
The service can take data from any source system and make it reporting-ready by automatically performing the data enrichments and transformations that are needed for each reporting regime, as well as performing deep data validation and reconciliation to demonstrate full compliance.
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