The Over-The-Counter (OTC) derivatives market is unregulated and builds risks within the ﬁnancial services industry. To control this, EMIR (European Market Infrastructure Regulation) has introduced new requirements that minimizes risks. This requires all standardized OTC derivatives to be cleared through Clearing Counter Parties. EMIR also contains provisions related to the conﬁrmation process, collateral mechanisms, independent valuation and reporting of OTC transactions to trade repositories.
In order to combat said challenges, Mindtree’s capital market Centre of Excellence (CoE) has been at the forefront of tracking development in EMIR. We work closely with our customers in monitoring changes and developing solutions that comply with regulatory and reporting requirements. We have strong capabilities in building and interfacing with TR for banks, other market participants and service providers and Application Programming Interface (API) for market participants to connect to ﬁnancial market utilities.
A few things in common with most regulatory projects are ambiguities in requirements, tight timelines and above all, the customer’s reputational risk and fear of high penalties. We understand this. Hence we deploy experienced resources to work closely with customers, to mitigate any risks and deliver high quality projects, on time.