The key to dealing with sweeping market reforms is technology, says BT Financial Service's Alex Foster
Since the economic meltdown, financial services firms around
the world have had a raft of new regulations to comply
It’s a subject that is on the agenda of every
Compliance Officer, Chief Operating Officer, Chief Information
Officer, and Chief Technology Officer across the financial
services world; from banks to Central Counterparty Clearing
(CCPs) and corporates. In fact, research by analyst house, IDC,
showed that 60 per cent of banks state 'Op Risk’
as the most important tech area for IT investment.
which is particularly topical at the moment is the EMIR
(European Market Infrastructure Regulation) trading reporting
regulation which came into effect on 12 February. This is a
directive from the European Union which aims to introduce new
requirements that improve transparency and reduce the risks
associated with trading on the derivatives market.
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