Confisio Managed Services said 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."