Explore SmartStream RDS for cutting-edge solutions, ensuring seamless EMIR Refit compliance with precision and expertise.
Explore SmartStream RDS for cutting-edge solutions, ensuring seamless EMIR Refit compliance with precision and expertise.
SmartStream RDS shares Refit Compliance Solutions for Derivatives Data. The EMIR Refit initiative, set to be implemented in April for Europe and September for the UK, aims to enhance transparency and stability in the OTC derivatives trading market.
SmartStream RDS acknowledges the industry’s concerns, particularly surrounding data quality issues and reporting field complexities. Moreover, the company focuses heightened attention on commodity and energy derivatives, where unexpected challenges may arise. In response, the company aims to provide comprehensive support to financial institutions, helping them navigate the intricate regulatory environment.
To meet the demands of the new EMIR regulation, SmartStream RDS plans to integrate additional attributes into its Listed Derivatives service and introduce a standalone OTC Derivatives service. Furthermore, these enhancements aim to cover the full spectrum of reference data required for compliance. Moreover, leveraging its reputation for delivering quality reference data as a managed service, SmartStream RDS intends to utilize its deep trade lifecycle expertise and skilled resources to offer accurate data and customized regulatory operations tailored to each financial institution.
Linda Coffman, the Executive Vice President of SmartStream RDS, underscored the significance of addressing challenges posed by the new regulation, emphasizing the completion of numerous new reportable fields for commodity and energy derivatives. She urged market participants to deploy necessary technology to ensure the highest data quality proactively, mitigating fines and reputational damage.
SmartStream RDS emerges as a pivotal player in providing tailored solutions to meet stringent regulatory standards as the financial industry prepares to implement EMIR Refit. Lastly, the company’s commitment to delivering accurate data and navigating the complexities of the evolving regulatory landscape solidifies its position as a leading provider of financial reference data services.
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