deltaconX secures another SFTR reporting hub client
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deltaconX secures another SFTR reporting hub client 18 May 2020Vienna Reporter: Drew Nicol
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Kommunalkredit Austria AG, a specialised bank for infrastructure financing, has chosen the deltaconX regulatory platform to fulfil its reporting obligation under the Securities Financing Transactions Regulation (SFTR) and the European Market Infrastructure Regulation (EMIR).
deltaconX will also provide the bank with reporting services for the second Markets in Financial Instruments Directive (MiFID II).
deltaconX offers a cloud-based multi-regulatory platform that aims to reduce the need for manual processes and high costs to achieve regulatory compliance.
Linda Vinkovics, team lead markets processing of Kommunalkredit Austria AG, says: 鈥淭he decision to use the deltaconX regulatory platform to fulfil our European reporting obligations was driven by several aspects.
鈥淯nifying our reporting processes and reducing manual efforts while saving costs to fulfil our obligations under SFTR, EMIR, MiFIR and MiFID II are clearly the major benefits for us.
鈥淚n addition, the deltaconX regulatory platform offers a very user-friendly and intuitive interface which reduces our operational efforts and offers several additional functionalities which makes regulatory compliance much easier than reporting directly to trade repositories and approved reporting mechanisms. Furthermore, we appreciate the good cooperation and support while implementing the banks new reporting process.鈥�
Elsewhere, Thomas Buk, CEO of deltaconX, adds: 鈥淲e are very proud that Kommunalkredit Austria AG has chosen deltaconX as their regulatory hub to cover multiple of their regulatory reporting requirements.
鈥淜ommunalkredit Austria AG is a highly valued customer of deltaconX AG and the cooperation went smoothly in the past weeks. We are looking forward to continuing the excellent cooperation and welcome Kommunalkredit Austria AG as a new member of our client base.鈥�
For deltaconX, the deal marks only the latest addition to its reporting hub鈥檚 client base. Earlier this month, it welcomed as its first Luxembourg-based client that had tapped deltaconX to assist in fulfilling its obligations under SFTR.
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