Implementation of a holistic solution for OTC Derivatives transactions and EMIR Reporting

Implementation of a holistic solution for OTC Derivatives transactions and EMIR Reporting

A leading asset servicing bank was looking to implement a transformation of derivatives data management to achieve transparency and granularity on holdings and trade activity of Over-The-Counter (OTC) derivatives on a daily basis. To scale up the existing system functionality and to comply with European Market Infrastructure Regulation (EMIR) reporting, the bank wanted a robust and a scalable solution.

When the bank approached Hexaware for solutions, our team chalked out a unified process. An enterprise data management tool was implemented for pulling the disparate OTC products for processing, enrichment, translation and validation. Using the tool’s functionality and additional scripts, critical manual processes and missing functionality were automated for data to flow seamlessly.

Business Benefits

The transformation solution for OTC derivatives transactions and EMIR reporting improved efficiencies in the following core functions.

  • Complete automation of EMIR reporting
  • Fully configurable model for derivatives taxonomy, reference and static data management driven by the business users
  • The client onboarding process was at least 50% faster due to standardization, automation in product onboarding setup and scalable harmonized CDM
  • A business-friendly, centralized exception management captured exception at source with easy resolution
  • Significant improvement in data quality due to comprehensive business and validation rules
  • Single platform ensured better traceability and encouraged data governance enforcement

Download the case study to know how our nimble solutions can help aid transparency and granularity to accelerate your existing system functionality.

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