The Depository Trust & Clearing Corporation (DTCC) announced its acquisition of Publicis Sapient’s Compliance Management Reporting System (CMRS), which will be integrated with the DTCC Report Hub service to create a pre- and post-trade reporting solution. Financial details were not released.
With the acquisition, the DTCC Report Hub service will provide pre- and post-trade reporting capabilities with the largest jurisdictional and regulation coverage, including MiFID II, and other mandates in the United States, Europe, Canada, Australia, South Korea and Hong Kong, among others. Under the terms of the acquisition, Publicis Sapient will serve as a strategic partner to DTCC by continuing to support, maintain and develop enhancements to the technology platform.
Firms using the newly expanded DTCC Report Hub offering will have the ability to manage derivatives, MiFID II, and Securities Financing Transactions Regulation (SFTR) pre- and post-trade reporting requirements via a unified, single-vendor platform, allowing them to mitigate compliance risks, enhance operational efficiencies and reduce costs.
“As national and global regulatory demands continue to increase, firms need a solution to help them simplify the complexities of their pre- and post-trade reporting processes,” said Chris Childs, managing director and head of Repository & Derivatives Services at DTCC, in a statement.
The expanded solution will interface with registered trade repositories and an Approved Reporting Mechanism (ARM), allowing firms to access a wide range of services, including pre-reporting facilitation, report generation and submission, automated reconciliation, and data analytics creation.