New EMIRate client Jönköpings Kommun

Jönköpings Kommun

We are glad to welcome Jönköpings Kommun as new EMIRate client.

News from Mr. B.

Mr. B. seems to be on a mission. The Garfield-style mission objective seems to be: If you can't convince them, confuse them. Another 'interesting' article regarding Cloud and SaaS. Sorry guys, most of this could not be more wrong. What comes next? The Cloud does not exist? Gravity is an illusion?

New partner Treasury Services

We welcome Treasury Services as new EMIRate cooperation partner for Benelux.

TFM pilot project with one of Europe's largest construction companies

TFM has been selected by one of Europe's largest construction companies for a pilot project. The main focus of this project will be on cash flow forecasting, using TFM's new features (forecasting on account level, cash pools ...).

SaaS - and what others think, but do not know

We quite often read 'interesting' things about SaaS (Software-as-a-Service). One of the most interesting and recent statements has been published by a TMS vendor (let's call him Mr. B.) - if an application does not open instantly on a smart device, it is not web-based and therefore not a SaaS-solution, he says.

Hm, somebody has either not done his homework, or delivers such incredible statements on purpose. Either way, this sounds funny, but it is not.

By the way: TFM and EMIRate are of course SaaS-applications. Real ones.

 

New treasury projects

While EMIR keeps us still busy, we are also working for our clients on different other projects. Interestingly, they have one aspect in common: We create smart EXCEL solutions for reports our clients cannot obtain from their TMSs.

IFRS, risk reporting, management reporting - with a methodically correct approach no problem at all. Just the opposite - we help our clients saving their precious time.

 

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 / 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.

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