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A-Team Insight Blogs

Riskart Announces Release of New OTC Derivatives Publishing Mechanism

Following the announcement of the decision from the Committee of European Securities Regulators (CESR) to back European Commission plans to compel transaction reporting on OTC derivatives, Riskart today announced the release in beta test of its new XML-based publishing module. This will allow the publication in XML in compliance with FpML standards from its OTC derivatives middle and back office system of all details concerning those derivative contracts whose underlying instrument is traded on a regulated market.

The design of the new publishing module will give clients a standard publishing mechanism that may be easily adapted for reporting requirements both towards regulatory authorities’ systems and other trade publishing platforms.

On the basis of CESR’s ongoing consultations with the market, the flexible nature of Riskart’s back office system will also allow clients to easily add to contracts a unique new identification code, whether it be based on market standards such as ISO 6166 (ISIN), the Alternative Instrument Identifier (AII) or any new classification system agreed during the consultation process.

Franco Marinotti, CEO of Riskart, commented: “It has always been part of Riskart’s mission to provide clients with solutions that anticipate industry issues and help reduce the administrative costs linked to the demands of regulatory compliance. We see this new publishing module as a further testimony to Riskart’s desire to be at the forefront in the resolution of back office issues in OTC derivatives and in line with the European Commission and CESR’s drive to bring greater transparency to the OTC markets.”

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