Regulatory data quality for CFTC Reporting
Be confident in the accuracy of your data and of your ability to meet changing CFTC requirements.
CFTC rules are prescriptive to focus on data quality
The CFTC Rewrite is now fully live. Changes include field amendments, stricter reconciliation requirements and tighter error notification windows.
Data complexity is increasing at the same time as regulators are putting increased focus on accuracy and completeness. And the new Rewrite is just one of the regulatory reporting overhauls currently facing operations teams.
An agile new approach to tackling the challenges of the CFTC Rewrite
The CFTC Rewrite aims for better data quality and more transparent markets. Delivering this, however, puts enormous pressure on firms. But many of the problems are caused by outdated technology.
Financial firms have historically reacted to regulatory change on a case-by-case basis. This has created a complex web of point solutions and one-time fixes.
There’s a wave of regulatory change that goes far beyond the CFTC Rewrite. It’s time to embrace the latest tools and tackle data quality issues holistically, across your organisation. This will enable you to meet any changes head on, building an operating model that keeps you ready for whatever comes next.
CHALLENGE
How can I quickly adapt my operational processes to stay compliant?
PROBLEM
Change is constant, with more updates likely on the horizon. Legacy tech stacks adapt at glacial pace and require heavy IT involvement.
SOLUTION
Give business users power over data controls. Our proprietary no-code Natural Rule Language (NRL) enables non-technical staff to remap existing processes, or build new reconciliations, quickly and easily.
CHALLENGE
New field requirements add even more data sources and formats
PROBLEM
CFTC reporting requires you to gather data from tens of systems and these records all need transforming and reconciling to ensure their accuracy.
SOLUTION
Ditch ETL with our schema-free and data-agnostic platform. It’s able to ingest files in multiple formats from multiple systems. Easily gather, standardise and reconcile data before automatically feeding it to downstream reporting tools.
CHALLENGE
Reporting timeframes are tighter and errors need correcting fast
PROBLEM
Most firms now have to report trades on T+1 and everyone has just seven days to notify the DTCC of errors. But legacy systems reconcile slowly and error identification is a tedious process.
SOLUTION
Unlock lightning-fast reconciliation and laser-focused exception management. Our data quality solution for the CFTC Rewrite can easily handle wide, complex data. The cloud-powered matching algorithm cuts runtimes and exceptions are pinpointed for rapid identification, assignment and resolution.
CHALLENGE
Changing data requirements need an agile solution
PROBLEM
With new data types like UPIs and UTIs, and a move to XML messaging standards, your systems and reconciliations may still reconfiguring to keep up.
SOLUTION
Say goodbye to multi-month change projects, IT cross-charges and business requirements documents. Duco’s data quality solution keeps you agile in the face of change.
Regulatory data quality. Simplified.
The Duco platform is the only choice when you need to respond fast, stay in control of your data, create transparency and future-proof your operations.
Agile compliance
Adapt to the changing demands of regulators with ease and at short notice. From remapping existing processes to handling new data types, Duco’s data quality solution for the CFTC Rewrite keeps you one step ahead.
See everything
Get end-to-end transparency of your regulatory data quality processes and manage permissions on a granular level. Every action is recorded for complete auditability.
You’re in control
From our no-code Natural Rule Language to the Duco Alpha machine learning engine, our solution is designed to be user-friendly in every way, from setup to documentation.
Always ready
Our platform is data agnostic and easily connects to both upstream and downstream systems. Whether it’s the regulation that evolves or your tech stack, Duco’s data quality solution comes with flexibility baked in to keep you future-proofed.
ON-DEMAND WEBINAR
Getting CFTC and EMIR Rewrites done
Industry experts discuss the challenges of meeting changing regulatory requirements and share strategies you can use to future-proof your reporting. Featuring speakers from Standard Chartered Bank, CBIC, DerivSource and Firebrand Research.
Book a regulatory data quality workshop
Want to discover how firms just like yours are tackling the challenges of meeting regulatory data quality requirements?
Book a one-to-one data quality workshop to uncover your true reconciliation footprint, revealing:
- How much time and money your business is spending on data quality and reconciliation for regulatory data
- The volume of data you’re processing and the chokepoints between systems
- The impact of automating these reconciliation and data quality processes