Confisio Managed Services Ltd, a Cyprus-based customized turnkey solutions provider to the financial services industry, announced today that it is launching a collateral valuation solution in conjunction with Dion Global Solutions and Traiana.
The new service has been launched ahead of the impending August 11 European Market Infrastructure Regulation (EMIR) deadline, when financial and non-financial counterparties will be required to provide daily reports on mark-to-market valuations of their positions and collateral value. The solution will be available across all asset classes for exchange traded and OTC derivatives and expands on Confisio’s EMIR trade reporting collaboration with Traiana, according to the announcement.
UnaVista is London Stock Exchange Group’s platform for matching, validation and reconciliation. Confisio’s new collateral valuation solution is an automated solution for clients reporting to the UnaVista Trade Repository as well as all other trade repositories. Confisio will set up the automated generation and submission of the relevant reports and submit them to UnaVista, as well as generating reports and ongoing support for EMIR compliance.
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Christodoulos Papadopoulos, CEO of Confisio, said: “We are delighted to be working with Dion and Traiana to launch this new service for our clients, which will ensure they are compliant with the latest EMIR regulations. Our solution simplifies the reporting process in a cost effective way, whilst also giving clients the support they need right the way through the reporting process.”
Ralph Horne, CEO of Dion Global Solutions, said: “We look forward to working with Confisio and Traiana on this new market initiative. In the current climate it is important that firms can seamlessly outsource their EMIR trade valuation reporting requirements, and our cross-asset portfolio risk valuation solution, dfferentia, helps them to do just that. This partnership allows financial institutions to focus on their core business and operate more effectively without the ongoing investment in, and maintenance of, legacy proprietary systems.”
Simon Roberts, CEO of Fortrade Limited, said: “One of the main reasons we chose Confisio over other suppliers is because their solution is customized for every customer, fully automated and offers the best value for money. Their superb understanding of our business model and EMIR Regulation gave us complete peace of mind.”