Buyer’s Guide: Consolidated Regulatory Reporting Systems


An Exploration of Multi-jurisdicational, Cross-regime Buyside RegTech Solutions

GreySpark Partners presents a report reviewing the consolidated regulatory reporting solutions of five third-party RegTech vendors utilised by buyside markets participants. The vendor solutions surveyed for this report are:

  • Advise Technologies’ Shuttle, Consensus and Signal
  • Broadpeak Partners’ K3
  • LIST’s Lookout@MIFID and Lookout@MAR
  • Trax Report, Trax Insight and Trax SFTR
  • UnaVista’s Buyside Reporting Suite

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The already extensive and complex regulatory reporting that buyside firms are mandated to deliver by myriad regulatory regimes became significantly more burdensome following the January 2018 implementation of MiFID II. The current regulatory landscape, particularly in terms of regulatory reporting systems, evolved organically, and sequential mandates from regulators led to a technology architecture in many firms that is non-cohesive in nature and, as a result, is unnecessarily inefficient. In response to this increasingly complex reporting landscape, and compartmentalised architectures, technology vendors are developing and refining solutions that can generate, on one platform, the buyside-specific regulatory reports mandated by manifold regulatory regimes.

During the first half of 2018, these inefficiencies are putting pressure on budgets, and IT teams – now freed up from much of the MiFID II programme change – are beginning the remediation work required to streamline the operation of systems impacted by MiFID II; most especially, disparate regulatory reporting systems. GreySpark believes that more firms will look for solutions that will consolidate their regulatory reporting across as many regulatory regimes and jurisdictions as possible to introduce synergies that will enable them to cut compliance costs.

This report presents the capabilities of five regulatory reporting vendor systems designed to facilitate MiFID II transaction reporting, as well as at least one other regulatory regime’s reporting demands. As buyside reporting needs are specific to each organisation’s scope of operation, the vendors selected for this buyer’s guide provide various combinations of regulatory and geographical coverage, and they do not provide like-for-like solutions; instead, each offers a service with a distinct focus, be that expertise, connectivity, data enrichment or simply a bare-bones technology product offering for clients with a strong focus on cost reduction.

Published on: 12 Dec, 2017

Buyer’s Guide: Consolidated Regulatory Reporting Systems – Table of Contents

  • 1.0 Introduction to Buyside Regulatory Reporting
    • 1.1 Trade & Transaction Reporting
    • 1.2 Breadth of the Post-crisis Regulatory Reporting Landscape
  • 2.0 Regulatory Reporting Platforms
    • 2.1 Choosing a Reporting Platform
    • 2.1.1 Data Capture, Data Management & Data Enrichment
    • 2.1.2 Rules Engine & Report Creation
    • 2.1.3 Service Bundles
    • 2.2 EU Approved Reporting Mechanisms
    • 2.3 Analysis of Surveyed Vendors
    • 2.4 Advise Technologies
    • 2.5 Broadpeak Partners
    • 2.6 LIST
    • 2.7 Trax
    • 2.8 UnaVista
  • 3.0 Appendices
    • 3.1 Glossary of Terms
    • 3.2 Table of Figures