Commerzbank Picks AxiomSL

Service aims to address multiple regulations on one platform

Alex Tsigutkin, CEO, AxiomSL

German bank selects vendor for centralized regulatory reporting under multiple US broker dealer rules.

Regulatory reporting and risk management solutions provider AxiomSL announces that it was selected by Commerzbank to deliver the SEC 15c3-1 and other regulatory mandates, such as the Financial and Operational Combined Uniform Single, Treasury International Capital (TIC), Off Balance Sheet reporting and additional US broker-dealer-based reports.

The bank opted to implement AxiomSL's integrated platform because of its ability to address complex data infrastructure and to automate regulatory reporting requirements on one platform.

US broker-dealers are looking for ways to keep up with the stricter regimen for compliance regulations that include myriad rules such as SEC Rule 17a-5. Firms are currently grappling with legacy systems that are aggregated with manual spreadsheets to support their reporting processes.

Alex Tsigutkin, AxiomSL CEO, says: "Institutions can optimize their existing IT infrastructure by implementing a flexible data management architecture, with an analytical and reporting layer and aggregation capabilities, which will address multiple regulations on one integrated platform."

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