Broadridge enhances PROactive Matching solution
04 September 2012 New York
Image: Shutterstock
Broadridge financial solutions has announced that functionality within its service-based trade confirmation solution, PROactive Matching, has been enhanced to help financial organisations meet the new Dodd-Frank disclosure requirements for FX trade repositories.
The regulation requires firms to identify individual FX transactions to new data repositories using a Universal Swap Identifier (USI), which uniquely identifies each trade.
The new requirement, facilitated in PROactive matching, means firms will be required to report USI鈥檚 on transactions to a designated swap data repository.
鈥淭his regulation comes at a time when firms are under pressure to reduce operational risk and strengthen their business process controls in an environment of growing deal volumes and increasing trade complexity,鈥� said Robin Kneale, head of strategy and product management, securities processing solutions, Broadridge.
鈥淭his PROactive Matching enhancement further advances a highly automated service that will help users to keep in step with forthcoming regulatory changes affecting their business operations.鈥�
The regulation requires firms to identify individual FX transactions to new data repositories using a Universal Swap Identifier (USI), which uniquely identifies each trade.
The new requirement, facilitated in PROactive matching, means firms will be required to report USI鈥檚 on transactions to a designated swap data repository.
鈥淭his regulation comes at a time when firms are under pressure to reduce operational risk and strengthen their business process controls in an environment of growing deal volumes and increasing trade complexity,鈥� said Robin Kneale, head of strategy and product management, securities processing solutions, Broadridge.
鈥淭his PROactive Matching enhancement further advances a highly automated service that will help users to keep in step with forthcoming regulatory changes affecting their business operations.鈥�
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