Catena Technologies today announced a strategic alliance with USAM Group, a member of the EACCNY, that expands availability of Catena’s flagship derivatives compliance solution to financial institutions in North America and Europe.
Under the agreement, USAM will provide marketing and sales strategy and execution for the TRACE Reporting solution, which automates reporting of derivatives trades to global regulators.
“Regulatory and trade repository changes coming up in 2019 will require major changes to trade reporting systems, creating a compelling opportunity for banks, asset managers and brokers to review the accuracy, completeness and scalability of their existing processes,” said Aaron Hallmark, CEO of Catena Technologies. “Our partnership with USAM means that we are in position to support firms in Europe and North America with an efficient, comprehensive and cost-effective solution for derivatives reporting to multiple regulators.”
TRACE Reporting automates collection of OTC derivatives data from internal systems and third-party trading platforms. It enriches trade data and transforms it to meet the exact specifications of global regulators. It also reconciles the responses received from trade repositories, providing real-time status information via an integrated dashboard that provides timely alerts and enables rapid remediation of potential reporting concerns.
“TRACE Reporting is a proven solution that improves compliance and reduces cost by automating derivatives trade reporting across all asset classes under regimes in the US and Canada, as well as the EU, Australia, Hong Kong, and Singapore,” said Feargal O’Sullivan, USAM Group’s CEO. “Clients around the world also benefit by working with Catena’s subject matter experts, who proactively monitor the global regulatory landscape to anticipate, thoroughly understand, and provide early support for upcoming regulations, such as Securities Financing Transactions Regulation (SFTR).”
The partnership leverages USAM’s presence in New York, Chicago, Toronto, London, Amsterdam, and Milan to augment Catena’s own operations based in Singapore and San Francisco.
About the TRACE Reporting System
Catena Technologies’ TRACE Reporting system reduces the cost and risk associated with reporting derivatives transactions to trade repositories in fulfillment of their global regulatory obligations. The system manages the end-to-end reporting and reconciliation workflow by automatically capturing, calculating, enriching, transforming, and submitting the required information to trade repositories. It can also reconcile trade repository data with a firm’s in-house and external data sources. Catena TRACE Reporting is a comprehensive platform that manages all functional requirements for trade reporting, including cross-asset coverage, valuation and collateral reporting, reconciliation, and multi-jurisdiction support, including ASIC, CFTC, MAS, HKMA, EMIR, MiFID II, OSC, and SFTR.
About USAM Group
USAM Group Inc. is a New York City-based business development agency that engages with fintech vendors to help them successfully navigate new product launch and early-stage growth. USAM leverages
the broad expertise of its management and marketing team with a proven process to design, implement, and execute strategic sales and marketing campaigns, creating awareness, building momentum, and, most importantly, closing deals. USAM supports clients in North America, Europe, and Asia, and its portfolio of clients represent the leading edge of fintech solutions across geographies and market segments, with services ranging from content and content management, to risk and compliance, and AI/machine learning.
About Catena Technologies Pte Ltd
Catena Technologies Pte Ltd specializes in architecture, design, and delivery of advanced technology solutions for the financial services industry. Based in Singapore, the company has worked with customers across the world, including the U.S., U.K., Japan, Hong Kong, Australia, Singapore, and China. Catena Technologies combines in-depth knowledge of the financial markets with expertise implementing cutting- edge solutions.
Compliments of USAM Group, a member of the EACCNY