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.
Phase I of the CFTC Rewrite is now live. Is your reporting compliant?
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 But many of the problems are caused by outdated technology.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.
How can I quickly adapt my operational processes to stay compliant?
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.
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.
New field requirements add even more data sources and formats
CFTC reporting requires you to gather data from tens of systems and these records all need transforming and reconciling to ensure their accuracy.
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.
Reporting timeframes are tighter and errors need correcting fast
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.
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.
More change to come with new data elements in Phase II
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.
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.
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.
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.
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.
With Duco we were finally able to reach the high level of quality we strived for in regulatory reconciliations.
Joyce Verschaeren, Head OC&S at Rabobank
Transaction data needs to undergo a number of enrichment processes between front office capture and the final report, which need to be replicated in the reconciliation process, covering large complex data sets. The quick deployment, flexibility and usability of Duco’s self service application enables us to efficiently build towards this reconciliation process with very little technical support.
Ranith de Silva, Head of Operations, Redburn
Duco in numbers
Top firms trust Duco to ensure the accuracy of their regulatory data.
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.
Unlock the power of your data with Duco
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