LONDON, April 30,
2024 /PRNewswire/ -- Droit, a technology firm at
the forefront of computational law and regulation, will partner
with FINBOURNE Technology, a provider of cloud-based investment
data management software, to launch an end-to-end position
reporting solution for increased regulatory transparency.
Over one hundred global jurisdictions have position reporting
obligations, requiring market participants to report equity and
equity derivatives holdings to regulatory bodies; a process that is
complex, time consuming and costly.
Droit and FINBOURNE come together to deliver a joint, full-stack
solution to enable sell-side and buy-side institutions to manage
disclosure obligations for long, short and takeover panel
reporting. This new offering leverages FINBOURNE's financial data
management platform LUSID, embedded with Droit's Position Reporting
product which delivers clear determination of reporting obligations
based on consensus interpretations of requirements from Endoxa, a
consortium of six global financial institutions.
The unified approach ensures consistency around complex
regulatory interpretations, regulatory clarity and accuracy of
reporting. As part of the joint solution, Droit translates and
processes detailed guidelines from all major global jurisdictions,
automating the decision-making process for shareholder disclosure
reporting eligibility. For complete accountability, a traceable
audit record is generated for each evaluated position.
With FINBOURNE's advanced data transformation capabilities, the
new end-to-end solution seamlessly maps the multiple data inputs
needed to evaluate rules. Moreover, it simplifies workflow
interactions via an intuitive interface, effectively mitigating
operational, cost, and complexity challenges.
"Integrating Droit into LUSID means that together we are able to
deliver a complete solution for position reporting. This
partnership enhances our ability to safeguard asset managers by
making sense of shareholder disclosure data when it comes to
complex trading books and provide a level of granular reporting
detail that is unmatched in the industry." added Thomas McHugh, CEO and Co-founder, FINBOURNE
Technology.
"By partnering with FINBOURNE, we are able to leverage consensus
interpretation and industry best practice for position reporting
for all market participants. The asset management industry
can directly benefit from the experience of their sell-side
counterparties." said Brock Arnason,
Founder and Chief Executive Officer of Droit. "FINBOURNE's
platform, built specifically to support the volume and complexity
of data that characterizes position reporting, integrated with our
consensus-driven eligibility rules, offers firms unrivaled
traceability, transparency, and auditability."
About Droit
Droit is a technology firm at the forefront of computational law
and regulation within finance and other domains. Founded in 2012,
Droit counts many of the largest financial institutions as its
clients. Its award-winning, patented platform Adept provides an
implementation of regulatory rules reflecting industry consensus.
The Adept platform processes tens of millions of inquiries a day,
deciding in real-time which interactions are legally permissible
across the globe. Adept is used by institutions to evaluate, with
sub-millisecond latency, the full regulatory implications of any
given interaction within their transactional infrastructure.
For more information visit droit.tech. To obtain more
information about Droit's products, please contact
sales@droit.tech.
About FINBOURNE Technology
FINBOURNE combines extensive technical expertise in financial
services data management with a best-in-class, open, cloud–based
investment management and servicing product ecosystem. By deploying
our solutions, our clients can better aggregate, manage and utilise
data across their organisations.
With operations across North
America, Europe,
Asia and Australia, FINBOURNE's data management
solutions help financial services firms improve their investment
management and servicing capabilities.
FINBOURNE is trusted by some of the world's leading financial
services firms, including Fidelity International, London Stock
Exchange Group, Baillie Gifford and Northern Trust.
For more information on FINBOURNE Technology visit
www.FINBOURNE.com or contact sales@finbourne.com
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