About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

RegTek Delivers Tactical Software to Support Strategic Approaches to Regulation

Subscribe to our newsletter

RegTek Solutions, a subsidiary of Risk Focus formed early this year, has introduced EMIR-Ready, a regulatory readiness testing and validation service designed to help firms within the scope of European Market Infrastructure Regulation (EMIR) comply with changes to the regulation’s Regulatory Technical Standards (RTS) that come into play on 1 November 2017. EMIR-Ready is a tactical regulatory fix, developed to reduce the costs and risks of complying with the revised RTS, but it is also part of a broader set of regulatory solutions that can be implemented as part of a strategic approach to regulatory compliance.

EMIR-Ready provides unlimited testing and diagnostic support for the analysis, development and testing of new regulatory reporting requirements. The service will run from June to November 2017 and is hosted in the Amazon AWS cloud.

Brian Lynch, CEO of RegTek, says: “Our strategy is to build modular software that can be integrated with incumbent software at large banks and broker dealers. It is very difficult for these firms to introduce new platforms, but many are looking at what they have built over the past five or six years and want to take a more strategic approach to regulation that is cost effective and will scale in future. We are selling into this space, with a goal to deliver strategic solutions that will be achieved by implementing a number of tactical products.”

EMIR-Ready is a tactical product covering the upcoming RTS changes required by the European Securities and Markets Authority (ESMA) and is a customised version of Validate.Trade, RekTek’s flagship product that is already being used by several large banks to test reporting submissions to trade repositories and monitor the quality of regulatory output.

EMIR-Ready includes specific rules relevant to the RTS changes, allowing users to test reporting outputs and build confidence in their response to the changes. Andy Green, RegTek Solutions European head, comments: “EMIR-Ready promises to get clients to a significantly higher level of confidence at a lower cost. In 2015, firms spent millions of Euros getting ready for ESMA Level 2 validations and the results weren’t great. Regulators are expected to be tougher this time round.”

RegTek was spun out of Risk Focus to develop the latter’s Report-it set of software controls for global trade and transaction reporting, including Validate.Trade, Reportable.Trade, Load.Trade and Reconcile.Trade. It was established in January 2017 and is in the final stages of Series A funding, although Risk Focus will remain the largest shareholder in the company. To date, 13 large banks are using RegTek software, with most of them using elements of the company’s global platform that provides testing and validation support for EMIR, Dodd-Frank and other jurisdictional regulations mandated by organisations such as the Australian Securities and Investments Commission, Hong Kong Monetary Authority and Monetary Authority of Singapore.

The company has also introduced a testing and validation service for Markets in Financial Instruments Regulation (MiFIR) reporting and is looking at providing test environments for the US Consolidated Audit Trail (CAT) and Regulation Securities-Based Swap Reporting (SBSR), as well as the EU Securities Financing Transactions Regulation (SFTR). It also continues to accommodate regulatory changes in different jurisdictions.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Mastering Data Lineage for Risk, Compliance, and AI Governance

Financial institutions are under increasing pressure to ensure data transparency, regulatory compliance, and AI governance. Yet many struggle with fragmented data landscapes, poor lineage tracking and compliance gaps. This webinar will explore how enterprise-grade data lineage can help capital markets participants ensure regulatory compliance with obligations such as BCBS 239, CCAR, IFRS 9, SEC requirements...

BLOG

ESMA Post-Refit Data Quality Report 2024 (EMIR-SFTR-MiFIR) Improvements and Ongoing Challenges for 2025

The European Securities and Markets Authority (ESMA) recently published its fifth annual report on the Quality and Use of Data for 2024 (the Report), reflecting significant progress in the regulatory community’s approach to data management and utilization. This comprehensive assessment is pivotal as it outlines both the advancements made in the quality of regulatory data...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...