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IHS Markit's Global Regulatory Reporting Solution's platform has
been selected by Banco Santander to report OTC derivatives trades
to multiple jurisdictions.
IHS Markit enables financial institutions to report OTC and
exchange-traded derivatives trades to regulators across the globe
via multiple trade repositories, approved reporting mechanisms
(ARMs), and approved publication arrangements (APAs). The system
manages the end-to-end reporting and reconciliation workflow by
automatically capturing, normalizing, calculating, enriching,
transforming, and submitting the required information to trade
repositories. It can also reconcile trade repository data with a
firm's in-house and external data sources. IHS Markit's Integrated
Reporting is a dedicated platform that manages all functional
requirements for trade reporting, including cross-asset coverage,
valuation and collateral reporting, reconciliation, and
multi-jurisdiction support, including G20 jurisdictions such as
ASIC, CFTC, CAD, MAS, HKMA, SEC and EMIR, as well as MiFID II and
Securities Financing Transaction Regulation (SFTR).
"The IHS Markit team is delighted to be working with Banco
Santander," said Pierre
Khemdoudi, Senior Vice President, Equities and Regulatory
Reporting, IHS Markit. "The Banco Santander team has
demonstrated its commitment to operational efficiency throughout
our engagement, coupled with a powerful command of financial market
standards. We look forward to working in partnership to roll out
IHS Markit's trade reporting solution."
About IHS Markit
IHS Markit provides
industry-leading data,
software and technology platforms and
managed services to tackle some of the most difficult
challenges in financial markets. We help our customers better
understand complicated markets, reduce risk, operate more
efficiently and comply with financial regulation.
About Banco Santander
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and
commercial bank, founded in 1857 and headquartered in Spain. It has
a meaningful presence in 10 core markets in the Europe, North
America and South America regions, and is one of the largest banks
in the world by market capitalization. Its purpose is to help
people and businesses prosper in a simple, personal and fair way.
Santander is building a more responsible bank and has made a number
of commitments to support this objective, including raising over
€120 billion in green financing between 2019 and 2025, as well as
financially empowering more than 10 million people over the same
period. At the end of the first quarter of 2021, Banco Santander
had €1.1 trillion in total funds, 149 million customers, of which
23.4 million are loyal and 44.2 million are digital, 10,800
branches and 190,000 employees.
Posted 11 May 2021 by Struan Lloyd, Executive Director, Business Development, S&P Global Market Intelligence
