Cappitech Enables Reporting for Singapore-Regulated Derivatives

Cappitech, a regulatory reporting and intelligence solutions provider, has announced the addition of the reporting capabilities for the transactions of Monetary Authority of Singapore (MAS) OTC derivatives today.

This will allow investment firms and other derivative holders under the purview of the Singaporean regulator to report transactional data using Cappitech’s solutions through MAS’s Depository Trust & Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term Corporation (DTCC).

“For many of our clients, the opportunity to use a single platform for reporting under multiple regulatory regimes is crucial for efficiency, cost savings, and business insights,” Ronen Kertis, Cappitech CEO and founder, commented on the integration. “Our platform offers the widest variety of services across regulations and to multiple trade repositories, with clients increasingly consolidating their reporting requirements via our platform.”

Building a Single Interface Regulatory Reporting

The Israeli regtech company is already offering regulatory reporting services in the United States, Canada, Australia, and Europe. To offer its services in Singapore-based clients, Cappitech has connected with DTCC ‘s GTR service and other TRs/ARMS.

MAS expanded the scope of its reporting regulations covering OTC derivative trades for interest rate, credit, FX, equity, and commodity derivative contracts. The regulator is expected to increase this scope further by next year.

“Adding MAS reporting to the DTCC, the only trade repository currently approved by MAS for OTC derivatives reporting, is an important step in ensuring a convenient and simple process for their Singapore trading business,” Kertis added.

Cappitech’s press release also highlighted that its penetration into the Singaporean market was fueled by the importance of the city-state as a global center for foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term trading and due to its proximity to the rest of Asia.

“As the leading trade repository in the world, GTR is uniquely positioned to help clients achieve compliance with the MAS October 2021 deadline,” Oliver Williams, DTCC’s head of GTR in Asia, said. “We are pleased to be partnering with Cappitech to deliver increased value to our mutual clients as they prepare for the forthcoming MAS reporting requirements.”