Delta Capita partners with Reg X Innovations for regulatory services
03 May 2023 US
Image: Kantapon
Global capital markets consulting firm Delta Capita has partnered with Reg X Innovations, a regulatory technology start-up, to launch a regulatory readiness assessment platform.
The new platform will process data from trading platforms and trade repositories to analyse reportable fields and data reporting errors.
It will also provide an automated report that highlights data gaps as well as mappings for the new EMIR Refit fields. In addition, it will show visual representations of data lineage.
The product launch comes at an important time, says Delta Capita, as the EU EMIR Refit reporting deadline has been recently confirmed as 29 April 2024. The UK鈥檚 implementation date will be 30 September 2024.
The revised regulation will impact all firms trading derivatives on a trading venue, or OTC, in the EU or UK, as well as central counterparties and trade repositories.
Karan Kapoor, head of risk and regulatory consulting at Delta Capita, comments: 鈥淲ith only 12 months to go until the first reporting deadline, now is the time for firms to start reviewing their current processes, identifying where the gaps are, and working alongside industry experts, such as Delta Capita, to make sure they are fully compliant.鈥�
Kalyan Deshpande, founder of Reg X Innovations, adds: 鈥淟ike all data-intensive reporting regulations, such as the EMIR Refit, the consequences of poor implementation can be costly. Delta Capita鈥檚 platform offers firms the opportunity to complete a thorough assessment of their current reporting so that they can avoid these expensive penalties.鈥�
The new platform will process data from trading platforms and trade repositories to analyse reportable fields and data reporting errors.
It will also provide an automated report that highlights data gaps as well as mappings for the new EMIR Refit fields. In addition, it will show visual representations of data lineage.
The product launch comes at an important time, says Delta Capita, as the EU EMIR Refit reporting deadline has been recently confirmed as 29 April 2024. The UK鈥檚 implementation date will be 30 September 2024.
The revised regulation will impact all firms trading derivatives on a trading venue, or OTC, in the EU or UK, as well as central counterparties and trade repositories.
Karan Kapoor, head of risk and regulatory consulting at Delta Capita, comments: 鈥淲ith only 12 months to go until the first reporting deadline, now is the time for firms to start reviewing their current processes, identifying where the gaps are, and working alongside industry experts, such as Delta Capita, to make sure they are fully compliant.鈥�
Kalyan Deshpande, founder of Reg X Innovations, adds: 鈥淟ike all data-intensive reporting regulations, such as the EMIR Refit, the consequences of poor implementation can be costly. Delta Capita鈥檚 platform offers firms the opportunity to complete a thorough assessment of their current reporting so that they can avoid these expensive penalties.鈥�
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