February 2024

Duco launches transaction reporting eligibility validator

29 February 2024, London – Duco, a leading SaaS provider of AI-powered data automation, today announced the launch of its transaction reporting (TR) eligibility validator.

The TR eligibility validator will initially be available for EMIR, with more regimes to be added later on. It provides an independent validation of internal eligibility rules, with a field-by-field comparison of individual financial services firms’ rules versus existing ESMA eligibility requirements. The tool highlights under/overreporting using Duco’s robust reconciliation and exception management capabilities and Quorsus’ extensive regulatory industry knowledge.

James Maxfield, Chief Product Officer at Duco said “With EMIR Refit preparations in full swing, Duco has been supporting many buy and sell side firms in getting ready with post reporting assurance. Eligibility checks are a key pain point for customers, so we decided to enhance our existing solution. Customers need to show regulators they are putting robust controls in place. With Duco’s transaction reporting eligibility validator, customers can run independent checks whenever they want, get results in minutes and access a clear audit trail. The solution provides insights at a field-by-field level so clients can see specific issues, discuss, and show ESMA they are considering discrepancies at a deep level.” 

Andrew Pinnington-Mannan, Head of Derivatives and Regulatory Consulting, Quorsus (part of Capgemini) commented: “We’re delighted to join forces with Duco in bringing this solution to market. Eligibility rules are complex to interpret, let alone implement, and many customers need help with both. More importantly, firms need to be able to demonstrate to regulators that they have credible, independent validation of their rules, and that their controls are effective, regardless of changes to processes or to datasets. By embracing modern data technology backed by strong expertise in regulatory reporting, they can unlock unprecedented agility to their business and avoid unwanted attention from regulators”.

About Quorsus

Part of Capgemini’s Financial Services Strategic Business Unit since October 2022, Quorsus provides consultancy services to financial institutions facing a range of challenges and constraints across the post-trade landscape. We offer unparalleled expertise in post-trade technologies, operations, regulatory solutions, and market infrastructure, helping our clients to achieve their goals through intelligent reengineering of platforms and process. We pride ourselves on the strength and character of our consultants. This, combined with decades of industry expertise, ensures that our clients meet their objectives, however steep the challenge.

For more information go to www.quorsus.com