Regulatory data quality for
EMIR reporting

Stay ahead of the demands of the EMIR Refit with an agile data quality solution.

Data quality in focus as EMIR Refit tightens reporting rules

Phase I of the EMIR Refit goes live on 19 April 2024. You’ll have nearly 90 new fields to report, tighter error notification windows and diverging UK rules to contend with.

There’s a lot of change to manage – with more to come after the go-live date.

Be ready for the Refit.
Phase 1 goes live in:

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An agile new way to respond
to the EMIR Refit

The EMIR Refit is making sweeping changes to derivatives reporting rules. Changes that are stretching firms’ web of point solutions and outdated legacy systems to breaking point.

It’s time for a different approach to regulatory change. One that embraces the advances in data technology to give unprecedented agility to the business.

Rethink your operating model and tackle the challenges of the EMIR Refit with faster, smarter tools. Put your SMEs in control and meet the demands of regulators today, tomorrow, and beyond.

Challenge

My operational processes need to change fast to stay compliant

Problem

There’s plenty of scope for changes to the requirements between now and the 19 April 2024 go-live. You may have to get ready in a short timeframe, but legacy tech stacks adapt at glacial pace and require heavy IT involvement.

Solution

Put your business users in control with our no-code Natural Rule Language (NRL). This gives your subject matter experts the ability to quickly and easily build new reconciliations or remap existing data quality processes themselves.

Challenge

EMIR field changes add even more data sources and formats

Problem

ESMA has added 89 new reportable fields, removed 15 and made changes to the name, definition or format of many existing fields. You’ll need to gather the new data from tens of systems, transform it and then reconcile it to ensure it’s accurate.

Solution

Simplify the process of gathering data for new reporting fields with our data-agnostic solution. It ingests data from multiple systems in multiple formats without pre-transformation. Aggregate, reconcile and feed to downstream reporting tools with ease.

Challenge

You’re expected to spot and fix errors fast

Problem

You’ll have seven days to spot and notify Trade Repositories (TRs) of any reporting errors. But legacy systems can’t handle wide data – the Refit brings the total number of reportable fields above 200 – leading to multiple processes, while their lack of granularity makes identifying and fixing exceptions a long and tedious process.

Solution

Reconcile faster and pinpoint exceptions at field level. No more hunting around for the source of breaks, even when reconciling wide, complex data. The cloud-powered matching algorithm cuts runtimes and fuzzy matching reduces false breaks. The Duco Alpha machine learning engine can automatically label and assign exceptions, greatly expediting resolution.

Challenge

UK divergence and Phase II promise further changes to contend with

Problem

EMIR rules no longer apply in the UK due to Brexit. Different standards mean you need to manage diverging regimes. And Phase II of the EMIR Refit, scheduled for two years after the go-live date, will bring more reconcilable fields, including valuations. Your systems and reconciliations will need reconfiguring again and again – not an easy task when you’re relying on hard-coded technology.

Solution

Ditch months-long change projects, cross-charges from IT and length business requirements documents. Duco’s self-service platform gives your firm the agility to respond fast to changes, whether it’s something you can see coming, like diverging XML schemas in the UK and EU, or something unexpected.

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.

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.

Agile compliance

Adapt to the changing demands of ESMA with ease and at short notice. From remapping existing processes to handling new data types, the Duco platform keeps you one step ahead.

See everything

Get end-to-end transparency of your data quality processes for EMIR reporting and manage permissions on a granular level. Every action is recorded for complete auditability.

Always ready

Our platform is schema-free, data agnostic and easily connects to both upstream and downstream systems. Whether it’s the demands of the Refit or your tech stack that evolves, the Duco platform comes with flexibility baked in to keep you future-proofed.

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CASE STUDY
Data quality controls for EMIR and more at a tier one bank

Discover how a tier one bank used Duco’s agile solution and derivatives expertise to build regulatory data controls, including for EMIR reporting, in just one week and give end-to-end ownership to their business users.

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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