Reconciliations

Compliance Reconciliation with S&P Global

3-Way Reconciliation from EMS/OMS Data to Regulator and Back
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Perfectly reconcile transaction data for the entire regulatory submission process

Regulators require investment firms to conduct systematic reviews of their regulatory report submissions. This includes reconciling reports received by regulators to trade data.

We provide a three-way reconciliation solution to help firms with their compliance governance.  Trade data is compared to transaction reports with line-by-line details of submissions to trades. Final XML reports received by the FCA reconciled to MiFIR submissions to comply with best practices of monitoring transaction reporting.

Ensure your transaction reporting is complete
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Benefits

Convert XML files provided to the regulators to an easy to read CSV format
Reconcile transaction reports with trade data
Display information on products filters out due to being ‘out of scope’
Build a compliance monitoring solution to comply with regulatory requirements
Identify any failings in your reporting process

How Our Solution Works

1
Seamless
No additional integrations needed for reporting clients
2
MDP setup
Download of NCA XML reports and upload to Cappitech
3
Validate
NCA data and front-end trades compared to submissions
4
Report
Daily creation of easy to review CSV files by reporting regulation

See it in action

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Automate your reconciliation process

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What is regulatory reconciliation?

Regulatory reconciliation is the process of comparing front office transactions to those submitted to regulators and trade repositories under transaction reporting for accuracy and completeness of reporting. The review should include checks that all trades that are under scope are in fact reported, transactions out of scope aren’t being reported and that data received by regulators matches sent submissions.

 

Is trade/transaction reconciliation a requirement by the regulator?

Under MIFID II regulation, there is a requirement within  RTS 22 Article 15 Clause 3: “Investment firms shall have arrangements in place to ensure that their transaction reports are complete and accurate. These arrangements shall include testing of their reporting process and regular reconciliation of their front-office trading records against data samples provided to them by their competent authorities to that effect.”

Other forms of transaction reporting regulation also include within their legislation requirements for firms to have in place processes for maintaining accuracy and timeliness of reports.

 

Why do we need to reconcile with the regulator’s data?

While comparing the number of transactions sent vs. the number of transaction accepted by the regulator, you can identify many reporting issues including identifying rejections or discovering records being missed.

 

What is a three-way reconciliation?

Three way reconciliation is a comparison between front office data, information sent to an ARM or service provider and reports collected by a trade repository or regulator.

Learn More

Blog

Trade Reconciliation: Why you need it?

Webinars

MiFID II for the Buy Side: What’s in it For You?

Capitalise on your trading data required for compliance. Are you investing time and resources into complying with MiFID ...

Brochures

Cappitech Reconciliation Brochure

Automate your reconciliation process and derive real business value. Under MiFID II, reconciliation is mandatory. But re...

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Learn how to easily reconcile your trades

It’s simple with S&P Global