New compliance ecosystem achieves compliant data reporting for repos and securities lending
Nomura Research Institute, Ltd. (NRI), a leading provider of consulting services and system solutions, announced today the company’s I-STAR/CORE has been updated for international Financial Stability Board (FSB)’s Standards and Processes for Global Securities Financing Data Collection and Aggregation. The system updates have been completed and NRI began offering the service on January 4th, 2019.
FSB’s Standards and Processes for Global Securities Financing Data Collection and Aggregation, published in November 2015, defines the data elements for repos, securities lending and margin lending that national and regional authorities are asked to report as aggregates to the global aggregator to detect financial stability risks and develop policy responses. Data required to be reported includes trading details such as date and price, collateral market price, counterparty details, type of contract, and trading purposes.
As a result of this latest system update to I-STAR/CORE, users can now set different collateral management and contract details according to each user company, client, and trade. Using a combination of I-STAR’s existing functions such as contract management, cash collateral and substitute collateral management and account attribute management, the new functionality enables the users to report automatically in compliant with the FSB’s guidelines.
“NRI is consistently working to assure that our solutions and services meet the latest compliance standards across international marketplaces,” said Masaaki Yamazaki, Managing Director of NRI. “Our development team is committed to assuring that our partners and customers in the securities sector are able to maintain the highest standards of collateral and contract management.”