REGIS-TR, the European Trade Repository owned by Clearstream (Deutsche Börse Group) and Iberclear (BME) recently signed KAS BANK as their first participant acting as third party reporting on behalf of other market participants. KAS BANK is amongst the initial wave of institutions to complete the on-boarding process ahead of time whereas many others are currently finalising details to ensure they are ready to start reporting at the end of June.
“KAS BANK is delighted to join REGIS-TR”, says Sikko van Katwijk, Member Managing Board of KAS BANK. “We understand the significance of the new EMIR regulations and believe REGIS-TR provides us with the best solution to offer the large number of impacted organisations both within the Netherlands and beyond an automated means of reporting their derivatives trades. Enabling our customers to report their derivatives positions (OTC and regular), offers them the first opportunity to comply with the new EMIR regulations well within the tight deadline. KAS BANK will provide this service to all market parties as part of our services to accommodate investors and traders to comply with the broader EMIR regulations that will be phased in.”
Nicolas Boatwright, Deputy Managing Director of REGIS-TR welcomed the decision by KAS BANK. “We consider KAS BANK to be a true partner in the roll-out of our solution. REGIS-TR has ensured its business model is flexible enough to facilitate a smooth on-boarding process to both financial and non-financial entities of all sizes and nature. By launching our test environment well in advance of the start of ESMA’s new regulations we have truly given market players the tools they need to ensure they are fully compliant with ESMA’s technical standards and this is reflected in the 250% increase in participants to our test environment in the last three months.”
REGIS-TR is being widely followed and studied by the European derivatives community. Its focus on the European regulation, flexibility and the close support to all current participants and potential customers has ensured it is regarded as an essential link between the financial industry and the regulators’ community.