Misys announced it has added connectivity to the Depository Trust Clearing Corp.
By providing DTCC with its Regulatory Reporting Service (RRS), Misys helps provide corporates, fund managers and smaller banks the choice of multiple trade repositories that they can automatically connect to and can meet their regulatory reporting requirements.
Misys has also added support for commodities reporting to the system, as well as compliance with new tighter validation rules.
Offered as a software-as-a-service (SaaS) solution, RRS enables customers to report to a trade repository on the execution, modification and termination of a derivative transaction, without needing to implement or maintain new systems. It also handles the valuation (mark to market) and collateral reporting requirements that came into effect in August 2014.
More than 30 companies are now subscribed to the Misys service, reporting on behalf more than 100 individual legal entities.
With its existing connectivity with Iberclear/Clearstream joint venture (Regis-TR for EMIR OTC derivative reporting), the addition of DTCC’s Global Trade Repository allows for the global expansion of the Misys RRS to such countries as Switzerland, Canada, Singapore, and Australia.
