AxiomSL goes live with SFTR platform 15 April 2020New York Reporter: Natalie Turner
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AxiomSL, a provider of regulatory reporting and risk management solutions, has gone live with its Securities Financing Transactions Regulation (SFTR) solution by the original European Securities and Markets Authority (ESMA) deadline of 11 April.
Phase one of SFTR鈥檚 implementation came into effect over the weekend but in-scope financial institutions have been given a grace period from reporting until phase two in July.
The firm says it will use the extra time before reporting begins to refine their operational processes.
AxiomSL describes its new solution as 鈥渘ew generation regime agnostic SFTR solution鈥� that enables counterparties to manage all regulatory data sent to relevant trade repositories and regulatory bodies on a single platform.
The solution utilises 鈥渘on-evasive trade data collection to automatically determine regime eligibility, ensuring there are no regulatory over/under-reporting issues,鈥� the regtech firm adds.
Fraser Reid, a senior solutions architect at AxiomSL, says 鈥淒uring these uncertain times, readiness to adapt to regulatory changes is critical.
鈥淥ur new generation regime agnostic trades and transactions reporting offering enables our clients to be ahead of the curve and unique in the marketplace, when implementing a truly scalable approach to SFTR and other trade and transaction reporting.鈥�
AxiomSL, whose client base has more than $43 trillion in total assets and investment managers with more than $11 trillion in assets under management, adds: 鈥淔inancial institutions can manage their SFTR and multi-regime reporting obligations on the cloud, providing a secure and cost-effective solution, via AxiomSL鈥檚 RegCloud offering.鈥�
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