Brennan Carley, global head of platform, Thomson Reuters
"The new capability gives our customers the detailed level of transparency into contributed data that they need to ensure they can effectively monitor activity."
New York, London - Thomson Reuters has
launched a new suite of capabilities which will allow firms to
manage the entire benchmark submissions workflow; from the
pre-submission requirements of controlling who in their firm is
publishing contributed data, to the post-submission compliance
activities of surveillance, audit and reporting.
Trading firms face increasing scrutiny surrounding their monitoring processes for contributed data, most notably for benchmark contributions following recent benchmark-fixing investigations. Global regulators and associations such as IOSCO are looking into firms' controls and compliance measures in this area with discussions continuing around how to effectively ensure increased transparency and control.
The new solution from Thomson Reuters combines content, analytics and visualization tools in a managed services environment. As part of the solution, financial institutions can use a new capability in Thomson Reuters Enterprise Platform that embeds a unique identifier (Visual Publishing Identifier) alongside a published price or rate, providing insight into publisher information across a firm's entire workflow. Financial institutions can integrate this data into their current auditing and reporting tools, allowing them to perform tasks such as tagging, analysis, and setting alerts based on configurable parameters. This can provide transparency for compliance monitoring, enabling them to spot potentially suspicious trading or submission activity.
"Thomson Reuters looks to support the financial industry in multiple ways to improve transparency and manage operational risk in today's evolving markets," said Brennan Carley, global head of platform, Thomson Reuters. "The new capability gives our customers the detailed level of transparency into contributed data that they need to ensure they can effectively monitor activity and be in a stronger position to satisfy evolving global regulations."