Regulatory reporting and intelligence technology provider Cappitech is announcing its expansion into Australia. The company has integrated its trade reporting product with the CME Group’s trade repository in the land down under and will start offering its services to ASIC-regulated firms.
The integration delivers an end-to-end solution for Australian investment firms. The regulatory reporting technology provider’s automation suite is compliant with ASIC’s Derivative Reporting requirements and extends the company’s existing cooperation with the CME Group on its European Trade Repository (ETR) that supports EMIR reporting.
According to data provided by Cappitech, since 2016, over 500 million trades have been submitted to the ETR. The new CME Group partnership in Australia opens a new market for Cappitech’s source system integration, data transformation, data validation and submission analytics technologies.
A Technological Challenge
With two trade repositories operating in Australia, Cappitech has chosen the CME Group’s Australian Trade Repository. The integration process has been a challenging endeavor with multiple moving parts.
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After Cappitech mapped trade data to the required field specifications from the CME, it had to put in place a system to receive a trade file from a customer and automatically reformat it to the specifications of the TR.
Another aspect of the integration has been connectivity. The process involves submitting the file to the TRs secure FTP and then being able to consume data messages from the TR which automatically generate a progress email to clients of Cappitech before they appear on the client’s dashboard.
“We welcome the latest integration with CME Group, a company we’ve been successfully reporting to on behalf of our European customers since 2016. The integration allows our customers with ASIC reporting obligations to comply with their Australian regulatory requirements with ease,” said Ronen Kertis, Founder and CEO of Cappitech.
Cappitech’s CEO Ronen Kertis will discuss the evolving regtech space and the increasingly complex framework that brokers need to adhere to with his most recent investor Ronny Grushka at the upcoming London Summit.