Sapient SAPE Global Markets has today announced its Compliance Management and
Reporting System (CMRS) will be offered for customers connecting to The
Depository Trust & Clearing Corporation (DTCC) Swap Data Repository (SDR)
reporting. CMRS provides firms with a complete solution for more efficiently
and effectively meeting regulatory reporting commitments.
Regulations, such as the Dodd-Frank Act, European Market Infrastructure
Regulation (EMIR) and the Regulation on Energy Market Integrity and
Transparency (REMIT), are increasing reporting requirements for firms in the
capital and commodity markets. Sapient's CMRS allows firms to collate vast
amounts of data from disparate systems, translate it into the destination
message format, deliver it directly to regulators and receive acknowledgement
messages back from DTCC. Additionally, it provides a single view of compliance
regardless of operating model and required reporting venue.
“DTCC is focused on delivering to our clients world-wide effective solutions
that bring greater cost efficiency, transparency and risk mitigation to the
OTC derivatives market. Our global trade reporting platform is designed with
an open architecture which allows a wide universe of market participants to
gain seamless access to our services which help them meet their regulatory
reporting requirements around the world,” said Chris Childs, managing
director, Deriv/SERV. “Working with complementary solution providers such as
Sapient Global Markets and connecting with CMRS is a prime example of how we
look to accomplish just that and jointly help our mutual clients face the
challenges of an evolving regulatory landscape.”
Designed for firms doing business across borders, CMRS connects to all major
trading and risk management systems that process high volumes of swaps and
other OTC products. It is SDR agnostic and is the only system to date that
collects and normalizes data from multiple sources before transforming it into
formats accepted by regulatory reporting destinations. It is this end-to-end
capability that ensures firms concerned with swap data reporting have a single
view of compliance regardless of operating model and required reporting venue.
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