SmartStream enables its clients to respond to forthcoming industry regulations, ensuring they have the necessary risk controls in place to assist with compliance rules.
Dodd-Frank Act and European Market Infrastructure Regulation (EMIR)
One of the requirements of both Dodd-Frank and EMIR is the reconciliation of OTC derivatives. In response, SmartStream has delivered solutions called TLM Reconciliations and TLM Trade Process Management for OTC Derivatives, which enables cross referencing of traded instruments between exchanges, reconciliation at transaction level, calculating and verifying transaction costs through to affirmations and confirmations processing, across the derivatives lifecycle.
By 1 January 2015, all banks must be able to measure their capital adequacy on a real-time, intraday basis. In preparation for this, SmartStream has included an intraday liquidity management module to its cash management solution. TLM Liquidity Management delivers a second by second view of a bank’s liquidity and integrated dynamic alerts to enable staff to take action whenever a bank hits a threshold.
Solvency II requires firms providing insurance to prove the quality and accuracy of the data being used by their internal models. This has a knock-on effect throughout the firm as internal departments are required to change processes, structures and systems to ensure transparency throughout the entire data lifecycle. SmartStream’s Data Management Services provide high quality and fully audited data to assist firms in preparing correctly for Solvency II.
By working closely with its clients SmartStream is able to fully understand their requirements and give them the exact capability they need – well in advance of the regulatory deadlines.