Omgeo experiences total ProtoColl
29 November 2012 Boston
Image: Shutterstock
Omgeo’s automated collateral management solution ProtoColl has been enhanced to help users meet new US Commodity Futures Trading Commission (CFTC) reporting requirements.
Under new CFTC business conduct rules, which were adopted in response to the Dodd-Frank Act, swap dealers and major swap participants must begin daily mark-to-market reporting for many of their open derivative positions.
ProtoColl’s storage and distribution capability can help clients to comply with these new daily mark-to-market reporting mandates. The solution allows required reports to be created quickly, drawing on user firms’ existing data.
“Shortened windows between the finalisation of regulations and required compliance are straining firms’ ability to meet deadlines,” said Ted Leveroni, executive director of derivatives strategy, at Omgeo. “When dealing with organisations maintaining multiple systems, it can be challenging to react rapidly to all of the new regulations surrounding OTC transactions. With an automated solution like ProtoColl, firms are better prepared to meet this challenge.”
Omgeo ProtoColl’s workflow capabilities manage daily activity and track all progress during the day. It supports automatic portfolio generation and reporting, calculation and posting of collateral requirements, and the subsequent processing of initial and variation margin movements across asset classes.
Under new CFTC business conduct rules, which were adopted in response to the Dodd-Frank Act, swap dealers and major swap participants must begin daily mark-to-market reporting for many of their open derivative positions.
ProtoColl’s storage and distribution capability can help clients to comply with these new daily mark-to-market reporting mandates. The solution allows required reports to be created quickly, drawing on user firms’ existing data.
“Shortened windows between the finalisation of regulations and required compliance are straining firms’ ability to meet deadlines,” said Ted Leveroni, executive director of derivatives strategy, at Omgeo. “When dealing with organisations maintaining multiple systems, it can be challenging to react rapidly to all of the new regulations surrounding OTC transactions. With an automated solution like ProtoColl, firms are better prepared to meet this challenge.”
Omgeo ProtoColl’s workflow capabilities manage daily activity and track all progress during the day. It supports automatic portfolio generation and reporting, calculation and posting of collateral requirements, and the subsequent processing of initial and variation margin movements across asset classes.
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