Bloomberg acquires RegTek.Solutions 14 August 2019New York Reporter: Maddie Saghir
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Bloomberg has acquired RegTek.Solutions to expand its suite of regulatory reporting services.
Bloomberg says the addition allows it to offer a 鈥渇ully integrated and comprehensive service that supports compliance with current and upcoming regulatory reporting requirements across multiple jurisdictions around the world鈥�.
RegTek.Solutions will be integrated with Bloomberg鈥檚 Regulatory Reporting Hub (RHUB), as well as Bloomberg鈥檚 enterprise data management and trading systems.
According to Bloomberg, its clients will have access to a fully electronic reporting workflow including transaction reporting eligibility, data validation, enrichment and reconciliation, to help them maximise accuracy and completeness in their obligations.
Alejandro Perez, global head of post-trade solutions at Bloomberg, said: 鈥淎s regulations become more complex, buy- and sell-side firms are looking for providers who can help them address requirements across various jurisdictions, with the necessary workflows and data structure that allows firms to maximise overall accuracy and completeness in their regulatory processes."
Brian Lynch, co founder and CEO, RegTek.Solutions, added: "RegTek has built an award winning product and impressive, tier-one client base.鈥�
鈥淐ombining our solutions with the strength and scale of Bloomberg's RHUB services, as well as access to their market data, enterprise data management, analytics and enrichment capabilities will allow us to offer the cross jurisdictional, cross asset solutions that our clients demand.鈥�
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