Provider of financial markets data and infrastructure Refinitiv is enhancing its post-trade regulatory reporting capabilities through a partnership with Xinthesys LLC that enables sell-side traders to potentially save costs with a single and fully integrated platform for trade reporting.
Refinitiv’s integration of Xinthesys’ ADEPT SaaS platform allows broker-dealers access to critical regulatory risk management tools through a 360-degree view of their trading and reporting data.
The regulatory reporting landscape across the broker-dealer segment is challenged by dislocation and outdated technology solutions that are unable to keep up with the rapid pace of regulatory change. Many existing order management and execution management vendors have reporting solutions for the sell-side. However, this leaves the typical broker-dealer who uses several OMS/EMS vendors with multiple costs associated with reporting and a high degree of regulatory risk, creating a heavy operational burden.
“The combined offering of Refinitiv and the Xinthesys ADEPT™ reporting capabilities offer broker-dealers a single solution. When used in conjunction with Refinitiv buy & sell-side trading solutions, we believe we have a competitive offering that empowers broker-dealers to manage down the operational costs of reporting across multiple post-trade workflows s” said Bryan Labelle, Director Trading Solutions at Refinitiv.
The Refinitiv / Xinthesys ADEPT platform delivers a fully integrated solution for users to connect across different technology providers. The platform enables centralization and storage for reporting using a single cloud-based source. The solution is integrated with Refinitiv’s Autex Trading Route (ATR) for FIX connectivity and enables users to work seamlessly with Refinitiv trading platforms and Quod Financial as a sell-side offering.
“The Xinthesys ADEPT™ platform was born out of more than 30 years’ experience of regulatory change and frustration with existing reporting solutions that did not meet the operational and risk mitigation that most broker-dealers need in today’s changing landscape. We are excited to be partnering with Refinitiv to extend the offering even further,” said Jeff Stein, CEO and Founder of Xinthesys.