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

Sapient Global Services Brings Close of Business Reporting Service to Market

Subscribe to our newsletter

Sapient Global Markets has responded to the need for commodity solutions for non-core operations with a managed end-of-day reporting service called Close of Business Service, or CoBS. The service is designed to help firms reduce reporting complexity and cost, and improve risk control and profit predictability.

The service has been in use by a handful of customers, two of them being global banks, for about nine months and is now mature enough to bring to market more widely. The service is delivered from Sapient Global Services’ locations in India and provides automated and standardised close of business reporting. It is trading platform agnostic and includes real-time dashboards that provide visibility into the operations process. The service can be hosted by Sapient Global Markets or the software can be hosted in-house at firms that prefer to manage their data in an internal environment.

Arun Karur, vice president and head of commodities at Sapient Global Markets, explains: “We focus on managed services and look for opportunities to commoditise and industrialise business processes. CoBS users can hand their daily transaction book to us and we hand it back the next morning, with the data collection, analysis and reporting complete and ready to go. Uses are able to achieve higher predictability, smarter processing and reduced overall risk, while capitalising on the expertise, lower costs and higher scalability benefits that a managed service can provide.”

The service can work across a firm’s global trading locations, gathering business transaction information including P&L, position, mark-to-market and cash flow data, and processing it to produce end-of-day reports. The scope of CoBS includes trading, compliance and risk reporting, with users defining the service to meet their specific needs.

Karur concludes: “CoBS is an evolution for us in the space of services for capital and commodity firms. The way services are accessed and delivered to meet business needs is changing and CoBS is a response to the need for more commoditised services as the regulatory structure puts pressure on costs and companies consider how to improve efficiency.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Taking a holistic approach to buy-side data management

Date: 7 February 2023 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes As data volumes and complexity continue to increase, buy-side data management is at an inflection point. Manual processes and data siloes are no longer fit for purpose, and firms need to take a more holistic approach to data management...

BLOG

Compliance.ai Plans Market Growth and Expansion on Back of $6 Million Funding Round

Compliance.ai, a provider of regulatory change management solutions, has secured $6 million of funding, which it will use to promote market growth and expansion. At the same time, the company has brought in a new CEO, Asif Alam, who will replace Kayvan Alikhani, who will continue innovating Compliance.ai products as co-founder and chief product/strategy officer....

EVENT

TradingTech Briefing New York

TradingTech Insight Briefing New York will explore how trading firms are innovating and leveraging technology as a differentiator in today’s cloud and digital based environment.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...