Waters Rankings 2015: Best Reporting System Provider ─ AxiomSL

Since the collapse of Lehman Brothers back in September 2008, an event that sparked a domino effect of financial crisis, the capital markets have been hit with a non-stop flurry of regulatory change, to the extent that now many see more prescriptive regulation of the industry as simply “the new normal.”

It's a time when operating models are coming under increased scrutiny, as traditional tactical approaches are no longer suitable to maintain compliance and competitiveness. As such, financial institutions are seeking to consolidate reporting into a streamlined, single function, flexible enough to handle a raft of regulatory responsibilities.

AxiomSL, winner of this year's best reporting system provider category, has a sole focus on its integrated reporting solution, ControllerView, and it's that single-minded approach, digging deeper into reporting functionality, that sets it apart from its competitors, many of whom offer reporting functionality as an extension of a wider management system.

ControllerView is a single, integrated platform that utilizes a modular structure, allowing users to implement add-on solutions to address specific reporting obligations. The platform acts in a similar way to the operating system on an iPhone, where users are able to integrate separate applications on a plug-and-play basis to create the system that best suits them and their organization's requirements. The benefit of this approach is that during application upgrades, the existing underlying platform remains uncompromised and reporting can continue apace-a vital function when the regulatory playing field is fluctuating.

ControllerView aggregates and consolidates data from across its reports range, providing flexibility to the user to leverage granular datasets for various regulatory and internal reporting requirements.

But the platform goes beyond a regulatory focus, however, and boasts a raft of reporting applications, incorporating liquidity and capital calculations, broker-dealer and swap dealer calculations, shareholder disclosures, Alternative Investment Fund Managers Directive (AIFMD) and Foreign Accounts Tax Compliance Act (Fatca) obligations.

In June, AxiomSL announced that it had expanded its regulatory policy team in the Asia-Pacific region-headed up by Abraham Teo-in a bid to help users "make sense of regulatory demands across the Asia-Pacific region" due to anticipated regulatory changes. As global financial institutions come under increasing pressure to comply with multiple regulations across the different jurisdictions, an end-to-end reporting system may end up becoming a competitive differentiator.

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