The European companies are pushing a look-through data utility intended to address compliance with the capital adequacy reporting regulation
Financial regulatory services providers Silverfinch, based in Dublin, and Fundsquare, based in Luxembourg, have partnered on a Solvency II look-through and data utility for European markets. Solvency II is the European capital adequacy reporting regulation taking effect in January 2016.
With their alliance, Silverfinch and Fundsquare will push their utility to asset managers and their insurer clients. "Solvency II is about to create a new continent of data," says John Dowdall, managing director, Silverfinch. "Asset managers will begin to see these requirements feed through in the coming months."
The utility will set a pan-European standard data model for managers, according to Dominique Valschaerts, CEO of Fundsquare. "This model has the dual advantages of allowing asset managers to retain control and protecting intellectual property," he says.
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