Catena's TRACE Platform Awarded Technology Development of the Year by Asia Risk
24 October 2016 - Asia Risk has awarded Catena Technologies the distinction of Technology Development of the Year for TRACE, Catena’s platform for regulatory transaction reporting. The award recognizes excellence in providing financial technology solutions to Asia Pacific financial institutions. The winners were determined by a panel of expert judges who evaluate all written applications, interview shortlisted candidates, and reaffirm the final selection by interviewing client references.
Since the global financial crisis of 2008, regulators globally have mandated transaction reporting requirements for both OTC derivatives and exchange traded transactions. Responding to the rapidly evolving nature of these requirements has proven a significant challenge for banks and buy-side firms of all sizes. While smaller firms are striving to streamline the reporting process to reduce operational burden, global and regional firms are focusing on consolidating reporting silos, improving data quality, and increasing agility, in order to adapt to new regulatory demands and growing business needs.
Catena responded to the market's needs with its unique TRACE reporting platform that automates the end-to-end reporting process with comprehensive functionality while delivering a scalable platform to adapt to future requirements. Some of TRACE's features that helped place it as the top technology development include its cross-asset coverage, valuation and collateral reporting, pre-submission validation, and post-submission reconciliation. In addition, Catena's introduction of new features like flexible business rule management for reporting determination, along with lifecycle-based real-time messaging, are helping the firm’s clients adapt to emerging reporting regimes. The emerging regimes that Catena is supporting include MiFID II, HKMA Phase 2, as well as new reporting regimes across Asia Pacific.
"We are pleased to be recognized by Asia Risk as the Technology Development of the Year. At Catena, we strive to bring innovative product features to help clients improve operational efficiency and reduce risk," said Aaron Hallmark, CEO of Catena. "For example, our hosted service now enables clients to link directly to their third-party confirmation, valuation, and custodial services, to further streamline their reporting process. In addition, we are extending TRACE to provide custom reconciliation and analytical capabilities to help clients increase data quality and make more strategic use of their trade reporting data. As always, we look forward to working with our clients to support their needs across current and emerging regulatory regimes while working to bring additional value to their business."
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