Sapient Global Markets, a provider of business technology and consulting services for the financial and commodity markets, has launched RegRecon, which is designed to solve industry issues surrounding low match rates and regulatory reporting accuracy.
As regulators require institutions to establish processes for identifying and resolving data discrepancies, trade reconciliation tools are essential for gaining a fast, accurate understanding of exposures and enable firms to efficiently monitor risk and manage collateral.
Sapient Global Markets’ RegRecon addresses these needs through automated trade matching and reconciliation, break management, and resolution workflow. Available as a standalone solution and managed service, or within the award-winning CMRS reporting platform, RegRecon helps firms to minimise reporting costs and deliver greater control over the entire reporting process.
Its flexible trade matching engine addresses data discrepancy and resolution issues by automating two-way trade matching and reconciliation, including problematic elements such as Universal Trade Identifiers (UTIs). RegRecon connects to Trade Repositories, ARMs and counterparties to receive confirmation responses as well as end of day reports to perform trade reconciliation.
RegRecon enables firms to move away from manual and ‘black box’ operations, by providing regulatory reporting assurance through enhanced visibility and transparency, ensuring firms neither under nor over report and run the risk of regulatory censure.
“Many of the traditional ways of working with data, particularly in post-trade processing for trade reporting and portfolio reconciliation are inconsistent and uneconomic, posing a significant compliance risk,” says Arun Karur (pictured), vice president at Sapient Global Markets. “RegRecon enhances operational processes through enhanced automation and efficient, seamless reconciliation workflow. It provides deeper insight in to all trade discrepancies and simplifies resolution tracking of all changes and messages between the middle-office and counterparties. It improves reporting accuracy mitigating the risk of non-compliance, while also saving time, money and effort for a function that offers firms no competitive advantage.”
