ABACUS/Transactions

Software solution for transaction-based regulatory reporting, covering the reporting requirements according to EMIR, FinfraG (TR) and for Money Market Statistical Reporting to the NCB/ECB.

ABACUS/Transactions is our standard software solution to enable our clients to fulfill their reporting requirements in accordance with the EMIR (European Market Infrastructure Regulation) for trade repositories as well as for Money Market Statistical Reporting to the NCB/ECB.

In addition to our already successfully established ABACUS/DaVinci platform which creates inventory reports from core banking and risk systems, the reports generated under ABACUS/Transactions are created from intraday transaction data. This data is usually delivered on a daily basis via a defined inbound interface from various source systems, such as front and back office systems and is then processed independently by the TR and MMSR modules. The reporting relevance for each data set is individually calculated. The client has the option to activate one or both modules through the existing layer structure.

This software is an independent product and is based on the proven Abacus-framework, which many customers have already successfully used in order to reliably generate a variety of reports required by the regulator.

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Product Features

ABACUS/Transactions is our standard software solution to enable our clients to fulfill their reporting requirements in accordance with the EMIR (European Market Infrastructure Regulation) for trade repositories as well as for Money Market Statistical Reporting to the NCB/ECB.

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History

Within the last decade, the significance of regulation regarding the financial markets has become increasingly important. The financial crisis in 2008 was the trigger for the emergence of a larger scale of regulation. This has resulted in the G20 countries resolution to form a worldwide framework to ensure a high level of transparency in the financial markets. BearingPoint Software Solutions GmbH has developed a solution to fulfil the most significant regulatory obligations for the European Market which are mentioned below:

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Clients

ABACUS/Transactions is suitable for financial institutions as well as corporations with appropriate data volumes.

Benefits

By using ABACUS/Transactions, the following benefits can be attained for our clients:

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TR Module (Trade Repository)

The objectives of the Regulation (EU) no. 648/2012 (EMIR) are to increase market transparency and to monitor concentrations of systemic risks in the derivatives market. The regulation requires all financial institutions and non-financial institutions of the EU to report traded derivatives to a trade repository (TR). An equivalent legislation is planned with the financial market infrastructure act (FinfraG) in Switzerland and is slated to commence in 2016. Within the ABACUS/Transactions product, the TR module generates the reports to the respective trade repository.

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MMSR Module (Money Market Statistical Reporting)

Given the ongoing structural changes in the financial markets, the current monetary policy requirements must ascertain the capacity and functioning of the money markets much more comprehensively than previous historical approaches. For this reason, on November 26, 2014, the European Central Bank (ECB) adopted Regulation (EU) no. 1333/2014 concerning statistics on the money markets (ECB/2014/48).

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Additional Functionalities

ABACUS/Transactions also supports analytical reporting (e.g. management reporting). The installation includes the necessary test and production environment, user training seminars, access to the ABACUS customer area (system documentation, user guides, wiki, etc.) and to our ticketing system. Additionally, the customer hotline/service desk is available for any further questions.

Support Modules

Alongside the regulatory reporting modules, BearingPoint offers additional supporting modules:

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Data Model and Interfaces

Data management in ABACUS/Transactions is carried out in a relational data model. An extension of the data model or using the existing data structures to venture beyond the basic application configuration remains possible at any time.

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Technical Components

ABACUS/Transactions is based on a flexible client-server architecture and a relational database for data storage. The usage of the following proven standard technologies ensures the reliability and productivity of the system:

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System Requirements

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