London, 30 July 2014 – Confisio Managed Services Ltd (Confisio), a premier supplier of customized turnkey solutions to the financial services industry, today announced that it is launching a collateral valuation solution in conjunction with Dion Global Solutions (Dion) and Traiana. The new solution will be available across all asset classes for exchange traded and OTC derivatives and builds on Confisio’s successful EMIR trade reporting collaboration with Traiana.
The new service has been launched ahead of the impending 11 August European Market Infrastructure Regulation (EMIR) deadline, when financial and non-financial counterparties will be required to provide daily reports on mark-to-market valuations of their positions and collateral value.
Confisio’s new collateral valuation solution is a complete and automated solution for clients reporting to the UnaVista Trade Repository (TR) as well as all other TRs. Confisio will set up the automated generation and submission of the relevant reports and submit it to UnaVista as well as generating reports and ongoing support for EMIR compliance. Confisio will offer this bundled service for an unlimited number of transactions for a fixed monthly fee, greatly reducing client costs for EMIR compliance.
Christodoulos Papadopoulos, CEO, Confisio said: “We are delighted to be working with Dion and Traiana to launch this new service for our clients, which will ensure they are compliant with the latest EMIR regulations. Our solution simplifies the reporting process in a cost effective way, whilst also giving clients the support they need right the way through the reporting process.”
Ralph Horne, CEO, Dion Global Solutions said: “We look forward to working with Confisio and Traiana on this new market initiative. In the current climate it is important that firms can seamlessly outsource their EMIR trade valuation reporting requirements, and our cross-asset portfolio risk valuation solution, dfferentia, helps them to do just that. This partnership allows financial institutions to focus on their core business and operate more effectively without the ongoing investment in, and maintenance of, legacy proprietary systems.”
Simon Roberts, CEO of Fortrade Limited, said: “One of the main reasons we chose Confisio over other suppliers is because their solution is customized for every customer, fully automated and offers the best value for money. Their superb understanding of our business model and EMIR Regulation gave us complete peace of mind.”
Confisio Managed Services Ltd is a premier supplier of customized solutions to the financial services industry. Confisio provides a range of cost efficient regulatory, operational solutions and a complete IT solution targeting retail FX brokers. It has established collaborations with leading technology vendors that enable the company to provide a range of products and services and to deliver results very quickly and cost effectively. For more information, visit www.confisio-group.com
About Dion Global Solutions
Dion is a trusted technology provider to the financial services industry. It delivers a comprehensive range of solutions to clients that operate throughout the financial markets. Dion draws on its presence across the markets, the depth of its global expertise and the breadth of its product development resources to serve the specific and localised needs of financial services firms. The company has over 500 clients in more than 80 countries supported by a worldwide staff of over 600, including more than 250 in product development. Dion’s solutions span investment, retail and commercial banking, institutional trading and investment and private client wealth management and stockbroking. For more information, visit www.dionglobal.com
UnaVista is London Stock Exchange Group’s global hosted platform for all matching, validation and reconciliation needs. It offers a range of business solutions through one interface designed to help firms become more efficient and reduce operational and regulatory risk across all asset classes. Services include:
Regulatory solutions – Global regulatory reporting services for over 1000 customers reporting 2.5 billions transactions per year. Including EMIR trade repository, MiFID ARM, short selling & AIFMD, REMIT, G20 reporting and more
Data Solutions — LSE is an authorised Pre-LOU to allocate LEIs via UnaVista, which also hosts SEDOL Masterfile, corporate actions, historical trading data and analytics.
Post Trade Services — trade confirmation and affirmations across multiple asset classes (inc swaps)
Reconciliations – cash, stock, system-system, NAV, Exchange, ETD, client money, FOBO
Traiana, Inc. (www.traiana.com) provides global banks, broker/dealers, buy-side firms and trading platforms with services to monitor pre- trade risk and automate post-trade processing of financial transactions in listed and over-the-counter trading markets. Traiana’s solutions and the Harmony Network have become the market standard for post-trade processing of foreign exchange, exchange traded derivatives, fixed income, CDS and synthetic and cash equity transactions. Traiana, an ICAP company, is headquartered in New York City with offices in Chicago, Hong Kong, London, Singapore, Tel Aviv and Tokyo.
Candice Adam, Argentus PR
+44 (0) 20 7397 2915