Point Nine Limited Chosen by Societe Generale Bank - Cyprus to Enhance Financial Regulatory Reporting
LIMASSOL, Cyprus (PRWEB UK) 17 January 2018 -- Societe Generale Bank - Cyprus Ltd has been utilising Point Nine’s proprietary post trade processing platform Circle to revamp its trading operations and has been successfully meeting the standards of the Markets in Financial Instruments Regulation (MiFIR) transaction reporting requirements which went live on January 3, 2018.
With the MiFIR regulations requiring more agile and robust data control processes, Point Nine’s Circle platform offers Societe Generale Bank - Cyprus Ltd a seamless and effective solution for processing, analysing and reporting trading data.
Saving businesses time and money, Circle’s MiFIR transaction reporting engine includes features such as Cross Asset Class coverage, Data mapping, Data enrichment, a Full Audit Trail and Daily Reports, which ensure clients have access to timely and accurate data for regulators.
Furthermore, Point Nine’s Circle processes data from various sources, covers all asset classes, translates and submits the reports to regulatory bodies in the format required and also handles acknowledgment messages.
Ms. Andrea Peratitis, Head of Regulatory Reporting at Point Nine, said: “We are proud of our reputation as a service provider which delivers a superior customer experience and we are relentless in pursuing excellence in every customer interaction with Point Nine. Progressive businesses like SGBCy recognize that regulatory reporting compliance is of high essence in the ever-changing financial market.”
Currently, Point Nine processes and reports in excess of 60 million transactions per month on behalf of buy and sell side firms for their regulatory transaction requirements under EMIR, ASIC and MiFIR regimes.
The new MiFIR transaction reporting requirements specify that investment firms, that enter into transactions on EU traded instruments, must provide regulators with explicit data for each of their transactions, in terms of instrument details, investment and execution decisions and personal data of the participating persons.
Mr Khalil Letayf, CEO of Societe Generale Bank - Cyprus said “We are delighted to begin cooperation with Point Nine regarding transaction reporting for MIFIR and have every confidence in the effective solution for analysing, processing and reporting data offered by Point Nine.
About Point Nine Limited
Point Nine is one of the industry leaders in post-trade execution, operation, processing and reporting. Founded in 2002, Point Nine, collaborates with both buy and sell side financial firms and corporations to help them meet the ever-expanding challenges of post-trade processing. Circle, our in-house proprietary technology, provides a real-time solution to all our customers and their trading relationships. Point Nine’s Counterparty Risk and associated Collateral Management outsourcing service has been awarded the Most Innovative European Project of the Year.
For more information go to https://www.p9ft.com/
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Andreas Roussos, Point Nine Limited, http://www.p9ft.com, +357 25028243, [email protected]
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