Software solution for transaction-based regulatory reporting, covering the reporting requirements according to EMIR, CSA, FMIA/FinfraG, MMSR as well as MiFID II/MiFIR.
ABACUS/Transactions is an established module-based standard software solution for transaction reporting, which is designed to help reporting institutions to meet the requirements for several types of transaction-based reporting without needing to have multiple data deliveries.
The ABACUS/Transactions TR / TR2 module has already covered the reporting requirements according to EMIR (European Market Infrastructure Regulation), FMIA/FinfraG (Swiss derivatives reporting) and CSA (Canadian Securities Administrators TR Rules). The MMSR module of ABACUS/Transactions, as demonstrated earlier, helps clients comply with the ECB regulation concerning statistics on the money markets (MMSR), which went live in summer 2016. The MiFIR module assists investment firms in fulfilling their reporting obligations under MiFID II/MiFIR (the revised Markets in Financial Instruments Directive and the accompanying Markets in Financial Instruments Regulation). Furthermore, ABACUS/Transactions is currently being additionally enhanced by the SFTR module to support the reporting regime under the Securities Financing Transaction Regulation (SFTR).
Due to the layer structure, the client has a choice to use each of the modules separately or in combination with other modules. The product can flexibly connect to a client’s multiple source system and offers high level of automation.
This software is an independent product and is based on the proven Abacus platform, which many customers have already successfully used in order to reliably generate a variety of reports required by the regulator.
ABACUS/Transactions is our standard software solution to enable our clients to fulfill their reporting requirements in accordance with the EMIR (European Market Infrastructure Regulation) for trade repositories as well as for Money Market Statistical Reporting to the NCB/ECB.
Within the last decade, the significance of regulation regarding the financial markets has become increasingly important. The financial crisis in 2008 was the trigger for the emergence of a larger scale of regulation. This has resulted in the G20 countries resolution to form a worldwide framework to ensure a high level of transparency in the financial markets. BearingPoint Software Solutions GmbH has developed a solution to fulfil the most significant regulatory obligations for the European Market which are mentioned below:
ABACUS/Transactions is suitable for financial institutions as well as corporations with appropriate data volumes.
By using ABACUS/Transactions, the following benefits can be attained for our clients:
The objectives of the Regulation (EU) no. 648/2012 (EMIR) are to increase market transparency and to monitor concentrations of systemic risks in the derivatives market. The regulation requires all financial institutions and non-financial institutions of the EU to report traded derivatives to a trade repository (TR). An equivalent legislation is planned with the financial market infrastructure act (FinfraG) in Switzerland and is slated to commence in 2016. Within the ABACUS/Transactions product, the TR module generates the reports to the respective trade repository.
Given the ongoing structural changes in the financial markets, the current monetary policy requirements must ascertain the capacity and functioning of the money markets much more comprehensively than previous historical approaches. For this reason, on November 26, 2014, the European Central Bank (ECB) adopted Regulation (EU) no. 1333/2014 concerning statistics on the money markets (ECB/2014/48).
ABACUS/Transactions also supports analytical reporting (e.g. management reporting). The installation includes the necessary test and production environment, user training seminars, access to the ABACUS customer area (system documentation, user guides, wiki, etc.) and to our ticketing system. Additionally, the customer hotline/service desk is available for any further questions.
Alongside the regulatory reporting modules, BearingPoint offers additional supporting modules:
Data management in ABACUS/Transactions is carried out in a relational data model. An extension of the data model or using the existing data structures to venture beyond the basic application configuration remains possible at any time.
ABACUS/Transactions is based on a flexible client-server architecture and a relational database for data storage. The usage of the following proven standard technologies ensures the reliability and productivity of the system: