Catena Becomes First Asia-Focused Global Trade Repository Service Provider
14th Jan 2014 - Catena Technologies Pte Ltd today announced that it has integrated its Catena TRACE™ trade repository gateway product to DTCC's Global Trade Repository (GTR), becoming the first Asia-focused GTR Service Provider.
The 2008 global financial crisis led to regulatory initiatives to improve transparency and reduce counterparty risk in the over-the-counter (OTC) derivatives markets around the world. In the US, Title VII of the Dodd-Frank Act obligated market participants to report derivative trade details to the regulated market entities defined as Swap Data Repositories (SDRs). In Asia, regulators are mandating similar requirements across the region, with compliance deadlines ranging from April 2013 to early 2015.
TRACE captures, consolidates, transforms, and provides reporting for OTC derivatives trade information, enabling banks to quickly address regulatory requirements related to trade reporting. It serves as a gateway that manages the flow of information between trading systems and DTCC-based trade repositories. TRACE integrates with the major trade reporting initiatives in Asia, including those in Japan, Hong Kong, Singapore, and Australia.
"TRACE provides straight-through processing from trade origination in banks' trading systems all the way to the DTCC's trade submission acknowledgment," said Aaron Hallmark, COO of Catena. "DTCC's addition of Catena Technologies to its GTR Service Providers directory underlines Catena's capability and focus in the reporting and compliance area. Catena provides off-the-shelf solutions for trade reporting integration requirements to market participants across Asia."
About Catena Technologies Pte Ltd
Catena Technologies Pte Ltd specializes in architecture, design, and delivery of advanced technology solutions for the financial services industry. Based in Singapore, the company has helped customers around the world, including the U.S., U.K., Japan, Hong Kong, Australia, Singapore, and China. Catena Technologies combines in-depth knowledge of the financial markets with expertise implementing cutting-edge solutions.
For More Information Contact:
Catena Technologies Pte Ltd
3 Phillip Street
#10-01 Royal Group Building
Republic of Singapore
Phone: +65 6100 0881
Fax: +65 6399 0881