Clarient Partners with FIA Tech for CFTC Reporting
Centralized platform aims to simplify reporting process
Clarient, the industry-owned client data and documentation utility, and FIA Technology Services (FIA Tech), a wholly owned subsidiary of the Futures Industry Association, have partnered to introduce a solution to simplify the reporting process under new US Commodity Futures Trading Commission (CFTC) Ownership and Control Reporting (OCR) requirements.
The Clarient OCR service is intended to help both buy-side and sell-side firms prepare for the new CFTC rule, which is expected to take effect April 27, 2016.
The service, now live, provides users with a platform to collect, validate, store and designate futures commission merchants. Firms submit their data into the Clarient Entity Hub, which in turn provides OCR information that has been validated and reviewed, directly to the FIA Tech platform. FIA Tech then reports OCR information to the CFTC and relevant exchanges once the account has become "reportable", according to the current OCR rules.
Matthew Stauffer, chief executive officer of Clarient, says: "Working with our bank and asset manager partners, we continue to stay focused on developing a robust product roadmap to help clients better manage their entity data and meet the changing regulatory requirements. This partnership with FIA Tech represents Clarient's commitment to working with the industry to develop solutions that facilitate compliance with regulatory mandates."
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Regulation
The US Treasury market preps for plumbing overhaul
Changes are coming to the US Treasury market with potential new clearing houses, access models, and more flow as the industry gets ready to meet the SEC’s first deadline for central clearing.
Reporting overhaul: the EU’s near-impossible balancing act
Regulators must weigh their desire to streamline derivatives reporting against the need to gather crucial trade data.
The SIX Digital Assets Regulatory & Tax Service—Simplifying regulatory compliance
SIX‘s Digital Assets Regulatory & Tax Service is designed to simplify regulations and tax directives governing digital assets, making regulatory compliance more straightforward
Ediphy challenges FCA, Sterling launches new OMS, and more
The UK bond tape is halted, LSEG and Databricks partner, Wells Fargo adopts TransFICC’s One API, and more in this week’s news roundup.
Waters Wavelength Ep. 332: DTCC’s Val Wotton
This week, Val Wotton joins the podcast to discuss the necessary steps leading up to the T+1 transitions in the UK and EU.
DORA delay leaves EU banks fighting for their audit rights
The regulation requires firms to expand scrutiny of critical vendors that haven’t yet been identified.
Citi gears up for EU T+1 climb
The bank has a dedicated team examining what it needs to do to ensure a successful transition to T+1 in Europe.
The great disappearing internet—and what it could mean for your LLM
AI-generated content, bots, disinfo, ads, and censorship are killing the internet. As more of life continues to happen online, we might consider whether we’re building castles atop a rotting foundation.
