Standard

ESMA OTC Reporting

Introduction

In March 2013 the reporting obligations for OTC Derivatives within EMIR came into force.  These technical standards improve the processing and reporting of OTC derivatives in the European Union and also to establish greater global harmonisation between their international counterparties.

If you deal with derivative trades (both exchange-traded and OTC) then you are required to report this information in a pre-defined format specified in a timely fashion.  This information has to be validated before being reported as error-prone reports will attract the attention of regulators.

Transformer addresses all these mapping and validation requirements and provides a solution that is easy to use, easy to maintain and easy to deploy into your existing infrastructure.


ESMA OTC Derivative Library

Transformer’s library captures every detail of the standard and presents it in a business-friendly way.  It is available for immediate deployment and includes all field validation rules for each asset class required.  You can immediately see and understand which fields need to be reported for each asset class and what format each field is required to be reported in.

If you require business logic to create values such as Unique Trade Identifiers (UTI) or look up Legal Entity Identifiers (LEI) than you can define this once within a mapping and then re-use that logic at all levels giving the user complete control over your business requirements and ability to view and adapt to any future changes either internally or through external market forces.


Transformer offers a fast, code-free approach to building solutions

Transformer dramatically shortens the time taken to build solutions involving complex standards.

The analyst using Transformer creates solutions directly in the intuitive Design-Time GUI. There is no coding stage, even when the required data transformation is highly complex. Projects remain clearly articulated and easy to maintain, and removing the old-fashioned ‘spec handover’ from analyst to developer eliminates a major source of risk and delay.

Users create mappings very easily in Transformer. For example, copying a field from the source to the target message just takes a simple ‘drag and drop’ action – Transformer automatically takes care of any reformatting required between the source and target syntax. To handle more complex mappings, Transformer provides a huge range of ready-made ‘mapping action’ building blocks. These can include conditions, which can in turn be combined into complex logic.  Even mappings that use complex business rules such as this format can be created at lightning pace.

You can also run a test on each new ‘line’ of a mapping or validation as soon as it has been added, moving the testing process as far upstream as possible, and ensuring high quality from the very start. Transformer also provides powerful regression testing facilities to help ensure that future standards changes do not adversely impact existing solutions.

You can learn more about all of these Transformer features here


Transformer is the strategic answer to OTC Derivative Reporting

All of these resources combine to ensure that Transformer the most powerful way to handle standards such as OTC Derivative Reporting and enable projects to build solutions that are delivered fast to a high quality, and which stay maintainable in the longer term.

To find out more or arrange a demonstration either online or in your office, please contact us