Deutsche Börse & RegTek.Solutions to Launch MiFIR Pre-Validation Service
- The expected launch of this service is set for the fourth quarter of this year.
Deutsche Börse Group, an exchange operator and provider of transactions services, announced on Tuesday that it has joined forces with RegTek.Solutions which provides regulatory reporting solutions.
The two companies have entered into a strategic partnership to create a certified testing and pre-validation service. This will be available for clients of Deutsche Börse’s Regulatory Reporting Hub.
The expected launch of this service is set for the fourth quarter of this year. The new platform aims to address feedback the exchange operator has received from its clients and regulators in regards to the obstacles in the quality and transparency of transaction reporting under the Markets in Financial Instruments Regulation (MiFIR).
Commenting on the new platform, Georg Gross, Head of Regulatory Services at Deutsche Börse said: “we are now able to offer our clients an additional service, which pre-validates their data before being sent to the Regulatory Reporting Hub.
“The result is a significant improvement in the quality of data we receive and submit for validation. The pre-validation process will allow our clients to identify any deviation from ESMA ESMA European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t Read this Term’s guidelines even earlier in the life cycle of their transactions.”
Pre-Validation Platform to Support a Range of Validations
The platform will be available to all of the executing entities currently using Deutsche Börse’s ARM (Approved Reporting Mechanism) service. The service will offer enhanced testing and data quality remediation capabilities, among a suite of other features.
According to the statement, it will also support a range of validations. This includes Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term-specific validation, acceptance criteria, messaging standards, enhanced quality validations, and best practice.
Brian Lynch, Co-Founder and CEO of RegTek.Solutions added: “reporting quality is a significant challenge for clients complying with MiFIR transaction reporting. ARMs help by offering a range of regulatory, client-agnostic and market-standard validations.
“Our new service offers a bespoke version of Validate.Trade to Deutsche Börse clients before the oversight of regulators. This allows clients to proactively test, monitor and prove the quality of their reporting before the process is completed.”
Deutsche Börse Group, an exchange operator and provider of transactions services, announced on Tuesday that it has joined forces with RegTek.Solutions which provides regulatory reporting solutions.
The two companies have entered into a strategic partnership to create a certified testing and pre-validation service. This will be available for clients of Deutsche Börse’s Regulatory Reporting Hub.
The expected launch of this service is set for the fourth quarter of this year. The new platform aims to address feedback the exchange operator has received from its clients and regulators in regards to the obstacles in the quality and transparency of transaction reporting under the Markets in Financial Instruments Regulation (MiFIR).
Commenting on the new platform, Georg Gross, Head of Regulatory Services at Deutsche Börse said: “we are now able to offer our clients an additional service, which pre-validates their data before being sent to the Regulatory Reporting Hub.
“The result is a significant improvement in the quality of data we receive and submit for validation. The pre-validation process will allow our clients to identify any deviation from ESMA ESMA European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t Read this Term’s guidelines even earlier in the life cycle of their transactions.”
Pre-Validation Platform to Support a Range of Validations
The platform will be available to all of the executing entities currently using Deutsche Börse’s ARM (Approved Reporting Mechanism) service. The service will offer enhanced testing and data quality remediation capabilities, among a suite of other features.
According to the statement, it will also support a range of validations. This includes Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term-specific validation, acceptance criteria, messaging standards, enhanced quality validations, and best practice.
Brian Lynch, Co-Founder and CEO of RegTek.Solutions added: “reporting quality is a significant challenge for clients complying with MiFIR transaction reporting. ARMs help by offering a range of regulatory, client-agnostic and market-standard validations.
“Our new service offers a bespoke version of Validate.Trade to Deutsche Börse clients before the oversight of regulators. This allows clients to proactively test, monitor and prove the quality of their reporting before the process is completed.”