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 go prescriptive in push for data quality

The first phase of the CFTC Rewrite goes live on December 5. Changes include field amendments, stricter reconciliation requirements and tighter error notification windows.

Firms have to manage a lot of change – with more to come after the go-live date.

Are you ready?
CFTC Rewrite Phase 1 goes live in:

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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 But many of the problems are caused by outdated technology.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

The CFTC has announced a lot of changes already, but there will be more to come. 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

More change to come with new data elements in Phase II

Problem

Phase I of the Rewrite introduces the Unique Transaction Identifier (UTI), with the Unique Product Identifier (UPI) and a move to XML messaging standards following in Phase II. Your systems and reconciliations will need reconfiguring to handle these new data types.

Solution

Say goodbye to multi-month change projects, IT cross-charges and business requirements documents. Duco’s self-service data quality solution keeps you agile in the face of change, whether it’s something you can see coming, like UTIs and UPIs, or whatever arises from the Q&As after the implementation deadlines.

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, the Duco platform 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.

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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.

Duco in numbers

Top firms trust Duco to ensure the accuracy of their regulatory data.

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Leading buy and sell-side customers using Duco for their regulatory data

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Records processed daily for regulatory data quality

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processes running for EMIR, MiFID, SFTR and CFTC

The Duco Platform for regulatory data quality

Rewrite your rules and evolve your operating model with a new approach to regulatory change. Duco’s no-code, machine learning-powered solutions enable you to move away from vertical problem-solving and future-proof your data management.

Built on the Duco Platform

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

These insights and the industry best practices we’ll share will help you create a potential roadmap for robust, future-proof regulatory data quality controls.

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