finfrag

FinFrag Reporting

Straightforward, Automated FinFrag Transaction Reporting
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FinfraG Reporting Solution

Cappitech’s innovative, cloud-based solution allows you to seamlessly and 100% accurately comply with FinfraG regulation, removing the compliance headache from banks, asset managers and other financial firms’ daily reporting needs.  

FinFrag is a transaction reporting obligation put into effect by the Swiss Financial Market Infrastructure Act. The regulation requires Swiss counterparties to provide daily reports of their derivative trades.

Simplify your FinfraG reporting
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How We Can Solve Your FinFrag Reporting Issues

End to end automation of your daily transaction reports to a licensed Trade Repository
Effective, straightforward integration of your existing, multi-format trade data files and APIs
Enrichment of product codes, counterparty LEIs and UTI generation
Intuitive dashboard allows for in-depth overviews of your ongoing reporting
A highly experienced professional services team, providing expert advice on instrument reporting eligibility, correctly enriching Natural Persons data (NPD)
GAP analysis to review your product scope
Significantly reduce your cost of reporting and overall cost of ownership
100% secure, encrypted and segregated file upload system

How the Cappitech Solution Works

1
Connect
Connect to your trade data - via push of trade files to sFTP, API integration or pull from DB
2
Validate
Data is validated to check for errors and filter out trades not under scope
3
Enrich
Reports enriched with static & dynamic data
4
Review
Report is submitted to the relevant Trade Repository with messages available to review on the web dashboard

See it in action

FinFrag_platform
Automate and monitor your reporting with our multi-regulation platform, a single platform for all your transaction reporting needs. From a single dashboard you can get a visual status overview of your reported trades and review complete transaction lifecycles. Use our sophisticated filtering and search functionality to easily investigate individual trade submissions.
FinFrag_insights_Late
Monitor the timeliness of your reporting and drill down into the details of late submissions to identify any underlying problems in your reporting process.
finfrag_reject
Gain insights into your transaction reporting; improve KPIs on accuracy, completeness and timeliness of your submissions. Monitor and improve your rejection rates by viewing the top reasons for rejections. Historical reports for rejected trades can be viewed and analysed, enabling firms to improve their reporting.

What is FinfraG reporting?

Switzerland put into effect the Swiss Financial Market Infrastructure Act (also known as FinfraG) in 2016.  FinfraG introduced a number of initiatives to better align financial regulation in Switzerland to that in the EU. Included within the regulation are daily reporting requirements that are similar in nature to that of EMIR and MIFID II in the EU. Also similar to EMIR, Finfrag put in place clearing requirements for over the counter (OTC) trades of certain types of counterparties. The regulation covers trading for both derivatives and non-derivative transactions.

 

Is Finfrag single or double-sided reporting?

In contrast to EMIR, FinfraG is a single-sided reporting framework. Thereby, the regulation sets forth a hierarchy of which counterparty or entity is responsible for submitting the transaction report for the trade. The reporting responsibilities are listed below.

 

Who needs to report under Finfrag?

FinfraG reporting requirements are limited to both financial and non-finacial firms with a registered office in Switzerland. As mentioned above, FinfraG is a single-sided report regulation with the entity responsible for the report as follows:

  • Cleared trades – The Central Clearing Counterparty (CCP) is designation as the reporting party
  • Uncleared trades between two financial counterparties (FC) or two non-financial counterparties (NFC)
    • When only one firm has a registered office in Switzerland, they are the reporting party
    • If one firm has the status of a Large Counterparty and the other a Small Counterpart, the Large FC or Large NFC is responsible
    • When the status of counterparties is equal, the seller reports the trade
  • Uncleared trade between a FC and NFC – The FC is responsible for the report

 

What data needs to be reported under FinfraG?

Fields required to be reported per trade include information on counterparties, instrument, price and notional amount details of the transaction, daily valuations and margin figures.

 

Where are reports submitted to?

FingraG reports are to be submitted to an approved trade repository (TR). Currently, TRs that support FinfraG are REGIS-TR, DTCC and SIX.

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