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25 September 2017

Deutsche Börse cooperates with SmartStream RDU Regulatory Reporting Hub will use SmartStream RDU tools for reference data / Joint development with SmartStream RDU on Systematic Internaliser Register

Deutsche Börse Group has entered into a cooperation with The SmartStream Reference Data Utility (RDU). The European market infrastructure provider will use SmartStream RDU service for its upcoming Regulatory Reporting Hub. SmartStream RDU is a managed service that delivers reference data for use in, among others, regulatory reporting offerings. The reference data includes the data from ESMA, GLEIF (global legal identifier foundation) as well as data on opening and closing times of markets that are used in the transparency services offered by the Regulatory Reporting Hub.

Further, SmartStream RDU today announced a new service – the Systematic Internaliser Register – that plugs a significant gap in the Markets in Financial Instruments Directive II (MiFID II) regulatory protocols. The service, which has been jointly developed by SmartStream RDU and Deutsche Börse, enables Systematic Internalisers to publish the financial instruments for which they will offer Systematic Internaliser services. The Systematic Internaliser Register will play a central part for identifying Systematic Internalisers within the Regulatory Reporting Hub.

“Fully-fledged and validated reference data is a key prerequisite of regulatory reporting. By collaborating with SmartStream RDU we are able to offer a comprehensive offering via our Hub, which meets all regulatory requirements; and processes are simplified, resulting in lower overall administrative costs for our users. The SmartStreamRDU Systematic Internaliser Register in particular, will be extremely valuable to our clients since it eliminates the need to bilaterally communicate Systematic Internaliser status in trade messages,” said Georg Gross, Head of Regulatory Services at Deutsche Börse.

“The SmartStream Reference Data Utility delivers complete, accurate and timely reference data for use in critical regulatory reporting, trade processing and risk management operations, dramatically simplifying and reducing unnecessary costs for financial institutions. We are very pleased that Deutsche Börse as a leading European market organization, is going to implement our service,” said Peter Moss, CEO, The SmartStream Reference Data Utility.

Deutsche Börse Group bundles its solutions for regulatory compliance in one platform – the Regulatory Reporting Hub. This Hub enables sell-side and buy-side clients as well as corporates and trading venues to meet their regulatory obligations efficiently and reliably – publication requirements as well as reporting to all relevant National Competent Authorities, covering multiple regulations.

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