12.09.2020

DTCC Acquires Sapient’s Compliance Platform

DTCC plans to integrate CMRS with DTCC Report Hub to enable firms to manage pre and post reporting processes

The Depository Trust & Clearing Corporation (DTCC), the premier market infrastructure for the global financial services industry, today announced its acquisition of Publicis Sapient’s Compliance Management Reporting System (CMRS), which will be integrated with the DTCC Report Hub service to create the industry’s most comprehensive pre and post trade reporting solution.

With the acquisition, the DTCC Report Hub service will provide an extensive suite of pre and post trade reporting capabilities with the largest jurisdictional and regulation coverage, including Markets in Financial Instruments II (MiFID II), and other mandates in the United States, Europe, Canada, Australia, South Korea (subject to implementation of final regulations) and Hong Kong, among others. Firms using the newly expanded DTCC Report Hub offering will have the ability to manage derivatives, MiFID II, and Securities Financing Transaction Regulation (SFTR) pre and post trade reporting requirements via a unified, single-vendor platform, allowing them to mitigate compliance risks, enhance operational efficiencies and reduce costs.

“As national and global regulatory demands continue to increase, firms need a solution to help them simplify the complexities of their pre and post trade reporting processes,” said Chris Childs, Managing Director, Head of Repository & Derivatives Services, DTCC. “CMRS is an established platform that, when integrated with the DTCC Report Hub service, will provide the industry with a proven pre and post reporting service that offers unrivalled asset and jurisdictional coverage.”

Under the terms of the acquisition, Publicis Sapient will serve as a strategic partner to DTCC by continuing to support, maintain and develop enhancements to the technology platform. “The combined trade reporting and consulting experience that DTCC and Publicis Sapient contribute to the existing technology platform will create a single, highly efficient, evolving, comprehensive reporting solution that will help clients manage the complexities of meeting multiple regulatory mandates across jurisdictions,” said Randall Orbon, Head of Strategy at Publicis Sapient. “Publicis Sapient engineered CMRS to act as an accelerator, and we’ve seen the platform develop a proven record of successfully supporting adherence to ever-evolving global reporting regulations.”

DTCC, a trusted industry partner, plans to begin integrating CMRS with the existing DTCC Report Hub service immediately. The expanded solution will interface with registered trade repositories and an Approved Reporting Mechanism (ARM), allowing firms to access a wide range of services, including pre-reporting facilitation, report generation and submission, automated reconciliation, and data analytics creation.

Industry demand for a complete pre and post trade reporting solution has increased as regulatory pressures have grown both locally and globally in response to the evolving regulatory landscape. Since the 2008 financial crisis, trade reporting rules have created challenges for financial firms, most notably data management complexities and increased burdens on internal compliance teams, who must continually monitor evolving regulations over time. The DTCC Report Hub service helps alleviate these burdens by eliminating the need for firms to build and support expensive in-house data management capabilities and systems that can comply with changing regulatory requirements.

In the coming years, DTCC will continue investing in further expanding the DTCC Report Hub service to meet client needs as regulations continue to evolve globally.

Source: DTCC

Related articles

  1. CBOE Expands Index Options, Volatility Suite

    The deal enhances Morningstar's ability to provide customized index solutions and expand in Europe.

  2. State Street’s strategy is to create the number one asset servicer globally.

  3. From The Markets

    FTX.US Acquires LedgerX

    US crypto exchange to provide CFTC regulated futures and options trading.

  4. The combined firm aims to provide superior data and analytics.

  5. In 2018 Federated Hermes acquired a 60% interest in HFML from BT Pension Scheme.