Catena Technologies has expanded the capabilities of its TRACE Reporting solution through integration with CME Group's North American and European trade repositories.
TRACE helps financial institutions fulfil global regulatory obligations for derivative trade reporting. This integration enables TRACE customers to report derivative trades to European, US, and Canadian regulators via CME Group, building on existing support for Australian regulatory reporting. Together with CME Group, Catena is able to provide a solution that automates G20 trade submission and performs post-submission reconciliation for customers with global trade reporting requirements.
"We see a major opportunity to help financial firms in North America and Europe fulfil their global regulatory trade reporting obligations and address upcoming reporting changes. Many of these firms have issues with delegated reporting and third-party trade reporting services that have limited capabilities," says Randall Duran, Chairman of Catena Technologies. "Working together with CME Group, Catena is able provide a solution that improves customers’ operational workflows and provides an end-to-end solution that addresses the full range of regulatory compliance needs."
"CME Group is pleased to work with Catena in extending their success with customers in APAC and providing comprehensive trade reporting solutions to customers globally," says Jonathan Thursby, Head of Global Repository Services, CME Group. "Working together with leaders like Catena to improve the accuracy of trade reporting and reduce operational costs will bring clear benefits to our customers. As a global leader and operator of trade repository licenses, spanning Australia, Canada, European Union and the United States, CME Group can offer a common experience and broad expertise to optimise trade reporting."
Catena Technologies' TRACE Reporting system enables financial institutions to report derivatives trades to trade repositories to meet global regulatory obligations. The system manages the end-to-end reporting and reconciliation workflow by automatically capturing, calculating, enriching, transforming, and submitting the required information to trade repositories. It can also reconcile trade repository data with a firm’s in-house and external data sources. Catena TRACE Reporting is a comprehensive platform that manages all functional requirements for trade reporting, including cross-asset coverage, valuation and collateral reporting, reconciliation, and multi-jurisdiction support, including ASIC, MAS, HKMA, EMIR, and MiFID II.
"Many firms have implemented tactical solutions for G20 and MiFID II reporting that rely on manual processing, are costly to maintain, and are difficult to manage and monitor," says Aaron Hallmark, Chief Executive Officer of Catena Technologies. "TRACE's automated reconciliation, in-line data quality controls, and dashboard monitoring capabilities, together with CME Groups' strong technology and operations, can help customers overcome these challenges.”
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