Omgeo Releases Solution for CFTC Mark-to-Market Requirements

ProtoColl will enable sell-side firms to meet daily mark-to-market and counterparty reporting mandates for their derivative positions.

Providing intra-day tracking of workflow activity, ProtoColl will be able to process initial and variation margin movements across asset classes once collateral is posted, as required by the Commodity Futures Trading Commission (CFTC) new business conduct rules.

The solution also comes with storage and distribution capability that will help firms rapidly create reports that draw on existing data that would otherwise be siloed across disparate systems.

"Shortened windows between the finalization of regulations and required compliance are straining firms' ability to meet deadlines. When dealing with organizations maintaining multiple systems, it can be challenging to react rapidly to all of the new regulations surrounding OTC transactions. With an automated solution like ProtoColl, firms are better prepared to meet this challenge," says Ted Leveroni, executive director of derivatives strategy at Omgeo.