Critics are worried firms don't have the systems in place for new reporting rules
Sapient Global Markets has adapted its
collateral management and reporting system (CMRS) in order to
accommodate new trade reporting requirements.
As part of the European Markets
Infrastructure Regulation (Emir), European buy and sell side
firms will be required to report daily any changes to trade
valuations and collateral payments to designated trade
repositories from August 12.
"There are numerous, significant data
challenges inherent in the trade reporting process, not least
of which is the aggregation of data from numerous different
sources across a firm," said Virginie O’Shea,
senior analyst, Aite Group.
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