SimCorp Clients Live with Latest EMIR Trade Reporting Requirements
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This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
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Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
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Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
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The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
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To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us to discuss a subscription.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
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Clients successfully meet new requirements for derivatives reporting as set out under EMIR and benefit from more efficient derivatives handling
Following the second compliance deadline for reporting derivatives trades to a trade repository (TR), SimCorp confirms that their clients successfully met the requirements as set out under the European Market Infrastructure Regulation (EMIR).
From August 11, investment management firms are required to include valuation and collateral reports in addition to the data that must already be reported to one of the TRs authorised by the European Securities and Markets Authority (ESMA). EMIR contains three requirements that have a direct bearing on investment managers’ IT infrastructure:
· Introduction of Central Clearing Parties (CCP) to reduce counterparty risk
· Optimizations in processing OTC derivatives
· Increased market transparency by introducing TRs
As regulators have given warning that non-compliance with these will result in severe penalties and the market has had a relatively short time to interpret and respond to the new regulations, there has been a high demand for quick-to-implement technology solutions.
The solution offered by SimCorp supports Regis-TR S.A. and DTCC as European TRs authorized by ESMA. Before the first reporting deadline of February 12, 2014 over 25 SimCorp clients across Europe opted to use SimCorp’s Trade Reporting solution which is seamlessly integrated into the SimCorp Dimension Investment Management platform. The integration saves SimCorp clients time when producing their reports by for instance allowing a direct drill-down from the reporting data to the actual trades captured in SimCorp Dimension.
“EMIR compliance has been a lengthy and challenging process. Deploying the right technology has been essential to coping with the requirements and our partnership with SimCorp has enabled us to handle the new rules competently,” said Marita Olofsson, Head of Business Administration Asset Management at AFA Insurance. “We are confident that with the solid technology platform SimCorp provides, we are well positioned to manage any new compliance requirements arising from the evolution of EMIR in the coming years.”
“The implementation of the Trade Repository solution was marked by the close collaboration between our clients and SimCorp’s consultants deploying the solution in each country. In order to maintain this close contact and to develop our solution further, we have invited our clients to the first European Trade Repository User Group Meeting taking place on September 17, 2014 in Paris. We are looking forward to bringing together our clients, as well as representatives of Regis-TR S.A. and DTCC in a knowledge sharing workshop which will be beneficial for all participants.” says Carsten Kunkel, Head of SimCorp’s Global Regulatory Center of Excellence.