- Regulatory Reporting Hub will use SmartStream RDU tools for reference data
- Joint development with SmartStream RDU on Systematic Internaliser Register
Deutsche Börse Group has entered into a cooperation with The SmartStream Reference Data Utility (RDU). The European market infrastructure provider will use SmartStream RDU service for its upcoming Regulatory Reporting Hub. SmartStream RDU is a managed service that delivers reference data for use in, among others, regulatory reporting offerings. The reference data includes the data from ESMA, GLEIF (global legal identifier foundation) as well as data on opening and closing times of markets that are used in the transparency services offered by the Regulatory Reporting Hub.
Further, SmartStream RDU today announced a new service – the Systematic Internaliser Register – that plugs a significant gap in the Markets in Financial Instruments Directive II (MiFID II) regulatory protocols. The service, which has been jointly developed by SmartStream RDU and Deutsche Börse, enables Systematic Internalisers to publish the financial instruments for which they will offer Systematic Internaliser services. The Systematic Internaliser Register will play a central part for identifying Systematic Internalisers within the Regulatory Reporting Hub.
“Fully-fledged and validated reference data is a key prerequisite of regulatory reporting. By collaborating with SmartStream RDU we are able to offer a comprehensive offering via our Hub, which meets all regulatory requirements; and processes are simplified, resulting in lower overall administrative costs for our users. The SmartStreamRDU Systematic Internaliser Register in particular, will be extremely valuable to our clients since it eliminates the need to bilaterally communicate Systematic Internaliser status in trade messages,” said Georg Gross, Head of Regulatory Services at Deutsche Börse.
“The SmartStream Reference Data Utility delivers complete, accurate and timely reference data for use in critical regulatory reporting, trade processing and risk management operations, dramatically simplifying and reducing unnecessary costs for financial institutions. We are very pleased that Deutsche Börse as a leading European market organization, is going to implement our service,” said Peter Moss, CEO, The SmartStream Reference Data Utility.
Deutsche Börse Group bundles its solutions for regulatory compliance in one platform – the Regulatory Reporting Hub. This Hub enables sell-side and buy-side clients as well as corporates and trading venues to meet their regulatory obligations efficiently and reliably – publication requirements as well as reporting to all relevant National Competent Authorities, covering multiple regulations.
About Deutsche Börse – Market Data + Services
Deutsche Börse is one of the world’s leading service providers for the securities industry with a product and service offering for issuers, investors, intermediaries and data vendors. The Group’s offering covers the entire value chain from trading, through clearing, to settlement and custody of securities. Market Data + Services is part of Deutsche Börse’s IT & Operations, Data & New Asset Classes division and comprises the Group’s broad market data offering as well as external technology and network services. Products and services include real-time and historical trading data from the Group trading venues Eurex and Xetra, as well as from cooperation partners. The department also markets reference data for more than 1,000,000 securities and over 11,000 indices including the STOXX and DAX index families, an excellent trading infrastructure and reliable network services.
About The SmartStream Reference Data Utility (RDU)
The SmartStream Reference Data Utility (RDU) is a managed service that delivers complete, accurate and timely reference data for use in critical regulatory reporting, trade processing and risk management operations, dramatically simplifying and reducing unnecessary costs for financial institutions.
The RDU acts as a processing agent for its participants selected data sources; sourcing, validating and cross-referencing data using market best practices so that these processes do not need to be duplicated in every financial institution. An experienced global team, who operate under the compliance frameworks of their customers, deliver data that is fit-for-purpose, consistent and in a format that is specific to the financial institutions’ needs.
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