Confluence’s ESMA regulatory reporting solution chosen by UK asset manager

Confluence Technologies, a technology solutions provider to the worldwide money management industry, has secured a five-year contract with a UK-based asset manager that will use the firm’s ESMA Money Market Fund Reporting and risk and compliance solutions.

This deal demonstrates the value of Confluence’s expanded offering since its acquisition of StatPro Group in October 2019, a firm known for its cloud-based portfolio analytics, asset data services, and data management tools. 

The asset manager will use Unity NXT Regulatory Reporting to satisfy the complex disclosures required under the new European Securities and Markets Authority (ESMA) Money Market Fund Regulation (MMFR) and will use Revolution, a cloud-based platform, across its fund range as an investment risk and compliance oversight tool and to produce stress tests in line with evolving ESMA regulatory requirements.

“Our new client needed a robust solution to satisfy MMFR, but also wanted to improve on the independence of its risk and compliance functions, coupled with enhanced reporting capabilities,” says Confluence’s president and chief operating officer, Todd Moyer. “Its senior management was able to see the value of addressing a range of operational and fiduciary responsibilities by using a single provider, and we’re pleased that we can help them achieve this goal.” 

“Confluence’s acquisition of StatPro brought together two highly complementary businesses to create a global technology provider delivering cloud-native solutions for risk, performance analytics, and regulatory and investor reporting to the asset management, asset owner and asset servicing markets,” continues Moyer. “While Covid-19 has changed our lives in a number of ways, it hasn’t prevented us from moving forward at this pivotal time for our company. Our teams have been working tirelessly to integrate StatPro’s products and services with Confluence’s, demonstrating our commitment to providing our clients with the solutions they have come to expect and depend on. Today’s announcement shows that asset managers have taken notice and are beginning to avail themselves of the expanded solutions we now offer.”

Revolution is a cloud-based platform, offering analysis of portfolio performance, attribution, risk, and compliance. It helps clients reduce costs, improve client communication and control investment decisions. Unity NXT Regulatory Reporting eases data management challenges and automates the filing processes for global regulatory reporting obligations. 

Under Article 37 of the MMFR, large European MMFs and their administrators are required to lodge their first reports by September 2020. ESMA is requiring detailed information on performance, liquidity, stress test results and holdings level-data.