FINBOURNE Technology and Droit will launch an end-to-end position reporting solution that will enable users to more efficiently and effectively fulfill their regulatory obligations, The TRADE has revealed.
Our joint full-stack solution enables both the buy and sell sides to manage shareholder disclosure obligations for long, short, and takeover panel reporting.
Brock Arnason
According to the companies, the product not only reduces compliance costs and manual dependencies, but also gives users more control through an intuitive interface that simplifies workflows.
Thomas McHugh, CEO and co-founder of FINBOURNE Technology, explained to The TRADE: “Timely, accurate, audited data is the foundation of regulatory reporting. Regulatory rules are the building blocks of these foundations. Managing the necessary data as requirements change can be costly and burdensome. It grew.
“Interpreting data and rulesets together is a much more difficult and costly task to do alone, as they change over time. We bring together cutting-edge technology and community expertise into a single end-to-end product.”
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A unified approach between FINBOURNE Technology, a cloud-based investment data management software provider, and Droit, a technology company at the forefront of calculus and regulation, provides consistency and clarity around complex regulatory interpretation and accurate reporting. is guaranteed.
“This partnership strengthens our ability to protect asset managers by understanding shareholder disclosure data on complex trading books and providing a level of detailed reporting unmatched in the industry,” said McHugh. explained.
By combining Droit's ability to translate and process detailed guidelines from all major global jurisdictions and automate decision-making processes regarding shareholder disclosure reporting eligibility with FINBOURNE's advanced data transformation capabilities. This means the new solution can seamlessly map the multiple data inputs required for an assessment. rule.
“The asset management industry can benefit directly from the experience of sell-side counterparties. FINBOURNE’s platform is purpose-built to support the volume and complexity of data that characterizes position reporting, and provides consensus-based It is integrated with eligibility rules and provides businesses with unparalleled traceability, transparency and auditability,” said Brock Arnason, Founder and CEO of Droit.
Specifically, the service was incorporated into Droit's position reporting product based on a consensus interpretation of requirements from a consortium of six global banks including Barclays, BNP Paribas, Goldman Sachs and HSBC. Powered by FINBOURNE's financial data management platform LUSID.
Currently, more than 100 jurisdictions around the world have position reporting requirements. This means that market participants must report their holdings of both stocks and equity derivatives to regulators, which is a complex, time-consuming and expensive process.
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Regarding the importance of position reporting, Arnason told The TRADE:[it] Data management and regulatory interpretation challenges companies must grapple with […] Those who are required to report on their position can feel at ease as they can disclose information with confidence. ”
