Level 1 validations in force
EMIR / EMIRate: Level validations came into force today. All trades of all clients have been reported correctly. Great job of all involved.
Clients seem to like EMIRate
Our clients like EMIRate. Ok, 100% would be even better. We will walk the extra mile for the last 8% to 11%. Survey results.
ESMA publishes consultation paper on EMIR reporting
More fun to come in 2015, ESMA has published a consultation paper and accepts comments received by February 13, 2015, at the latest.
ESMA Level 1 validation rules implemented in EMIRate
We have already implemented and tested ESMA's Level 1 validation rules.
In other words: EMIRate clients are ready once the repositories are (not before Decmeber 1, 2014). According to recent news, market participants (and their TMSs) seem to struggle with the new rules.
We have done this within less than three hours. This is why EMIRate clients feel very well taken care of - while others struggle, they can just relax.
SFS / Denmark, Finland & Norway
Scandinavian Financial Solutions, our successful Swedish partner, is now also responsible for Denmark, Finland and Norway.
EMIR / ESMA - Update Q & A
ESMA has released an updated Q & A document.
ESMA / EMIR / UTI generation: 'Final' seems to be the hardest word.
Well, this is not the name of a new song by Elton John and Bernie Taupin. 'The other ones bite the dust' could be an alternative as well.
While getting ready for the implementation of the so-called Level 1-validation rules for inter-repository reconciliation, we noticed that ESMA has obviously informed the repositories, that they will release new guidelines regarding the UTI generation and that the old ones (part of the Q & A) do not apply anymore.
So, this is really interesting. They tell you (in fact not you, but somebody else) that something does not apply anymore, that something new will come, but not, when they will deliver it. It wasn't really necessary to emphasize the fact, that ESMA does obviously not really care if these things have a direct impact on systems and software, and not only on the regulation. With rumors, that ESMA expects also a full reconciliation of already matured trades, on top, we still see room for further entertainment potential.
FMIA / FinfraG - Slightly amended and ready for 'deployment'
Today, the Swiss Federal Council has adopted the dispatch on the Financial Market Infrastructure Act (FMIA, German: FinfraG).
From a corporate point of view, FMIA and it's consequences for Swiss corporates or Switzerland-based subsidiaires of foreign corporates are quite similar to the requirements due to to EMIR. But there will be at least some relief regarding reporting.
Trades concluded between a corporate and a bank will have to be reported by the respective bank and not by the corporate. Transactions with foreign counterparties will have to reported in case the foreign counterparty does not report.At the moment, no more detailed information with regards to e.g. implementation, timelines etc. is available and expected to be delivered in Q4 / 2014 - FMIA is expected to come into force later in 2015.
Further information regarding the dispatch can be found here (General aspects in English, law etc. in German).
Were do our users come from?
We were wondering where our users (TFM, EMIRate, banktory.com) come from - here is the result.
New client, new project
Evaluation of system landscape and work out of a future-proof concept.
EMIRate / Market valuation, all clients 'in sync'
All our clients that are obliged to report market values have reported their first valuation updates successfully and smoothly. The EMIRate-way, simple and without problems.
TFM - now with weekly forecasting
Following some user requests we have enhanced the forecasting features of TFM. Cash flows can now be captured and presented also on a weekly basis. For reporting purposes, a nicely designed EXCEL export can be created at the press of a button, without having to use an expensive BI tool.
For more information regarding TFM please visit www.tfm-now.com.
FinfraG - The Swiss "EMIR"
'Same, same, but different' as they say in Thailand. We have put together some information regarding FinfraG - for the time being in German language only. To learn more, please visit emir-ate.com, the German facts section.
New EMIRate-Partner Derivatives Value Advisors
Our partner network is growing. We welcome Derivatives Value Advisors as exclusive partner for UK.
Treamo @ EuroFinance Budapest
We will speak about EMIR and its impact on corporate treasuries at the EuroFinance conference in Budapest - http://www.eurofinance.com/