Organizations face many different challenges when it comes to regulatory reporting. Regulatory frameworks have become increasingly dynamic and added complexity to reporting requirements. Failing to comply might result in regulatory fines and reputational damage.
Virtusa’s trade repository reporting (TRR) solution is ready for European Market Infrastructure Regulation (EMIR) Refit.
Virtusa's Trade Repository Reporting (TRR) is a fully automated cloud-native reporting tool that gathers all the data in a single location with one login. The Software as a Service (SaaS) solution is made EMIR REFIT-ready using agile principles. It has continuously evolved to correspond to the reporting requirements of the volatile regulatory environment.
To be compliant with the EMIR REFIT reporting requirements will present several operational and data challenges, so organizations should take measures to test and adopt reporting solutions for upcoming EMIR REFIT changes as soon as possible.
Why Virtusa
Our TRR solution is European Network and Information Security Agency (ENISA)-certified, and we have partnered with Ernst and Young (EY) for regular audits, showcasing our in-house expertise with a proven track record in implementing regulatory projects for financial and non-financial counterparties.
The Software as a Service (SaaS) solution made Regulatory Reporting ready using agile principles.
Virtusa offers the following trade repository reporting solutions for your enterprise:
- Extensive service offering with monitoring and adjustments based on regulatory changes or changes to the TRR interfaces.
- Cloud-based and highly automated solution for scalability and adaptability to future requirements.
- Reduction in additional workload for business operations, allowing clients to focus on core business activities rather than keeping up with legislation changes and manual reporting tool enrichment.
- Supported by a dedicated surveillance team.
- Data mining and analysis functionality within the solution, providing control from the source system to the trade repository and matching process results.
- User access to reported data status, drill-down and analysis capabilities, and the ability to follow up on reconciliations (inter-TR and intra-TR) within a single solution.
- Enables extensive historical data tracking and audit control.
- The user will have a dashboard in the solution with an overview of mismatched fields, so the solution has a reconciliation process.
- User-friendly, dashboard-driven interface for easy monitoring of reporting status.
- One-stop-shop solution: Virtusa offers a Software as a Service (SaaS) solution as a one-stop shop for the client, with all data gathered independently of different regulator regimes.
- Security: We offer the highest level of file encryption with a secure file transfer service.
- Straightforward onboarding: Equip yourself with a hassle-free onboarding process of the trade repository from our expert team.
- Minimum complexity: With our easy-to-use and intuitive user interface, we offer total flexibility with XML and CSV file formats.
- Future-safe: We ensure continuous adjustments and improvements based on regulatory changes or changes to the trade repository.
- Support: Get 24x7 monitoring from a dedicated support and surveillance team.