Cyprus-based Point Nine announced a partnership with FIS for regulatory reporting services product development. Point Nine is a regulatory reporting firm focusing on the provision of trade and transaction reporting services to legal entities globally.
“The data which are necessary for firms to ensure timely and accurate reporting are segregated amongst multiple systems, data formats and third parties,” said Andreas Roussos, CEO of Point Nine, in a statement. The resulting product from the partnership combines FIS’ trade data and Point Nine’s capabilities, and is called FIS Trade Reporting Manager with Point Nine.
It is an end-to-end, cloud-based solution that collects raw data across all asset classes from multiple sources, performs data mapping, includes rich market data, and automatically translates, validates, and submits reports that meet specific regulatory requirements. Plus, the expert exception management service consists of two major components – email notifications, and the expertise to drill down and quickly resolve any potential issues.
Since October 2015, Point Nine processed and reported more than 7 billion transactions across all asset classes with a proven track record of 99.95% submissions success in EU/UK transaction reporting.