ISDA Wins Best Regulatory Reporting Initiative at 2024 Regulation Asia Awards

Press Release

01:21 PM 4th November 2024 GMT+00:00

Reporting by Editors

Article Summary

ISDA received the Best Regulatory Reporting Initiative award at the Regulation Asia Awards for Excellence 2024 for its Digital Regulatory Reporting solution, which enhances regulatory compliance and operational efficiency through innovative technology.
The Digital Regulatory Reporting solution utilises the open-source Common Domain Model to convert regulatory reporting rules into machine-executable code, facilitating efficient implementation and alignment with global regulatory standards across multiple jurisdictions.
The award highlights the critical role of advanced regulatory reporting solutions in improving accuracy, reducing costs, and streamlining workflows, thereby supporting institutions in meeting compliance requirements effectively.

This summary has been produced by RegAI. Contents may not be accurate.

ISDA was awarded Best Regulatory Reporting Initiative at the 7th Regulation Asia Awards for Excellence 2024 for its Digital Regulatory Reporting (DRR) solution.

This award recognises initiatives that set new benchmarks in regulatory compliance, data accuracy, and efficiency, helping institutions meet rigorous regulatory reporting standards while enhancing operational processes through innovation and adaptability.

ISDA was awarded Best Regulatory Reporting Initiative for its Digital Regulatory Reporting (DRR) solution, which uses the open-source Common Domain Model (CDM) to transform industry-agreed interpretations of regulatory reporting rules into machine-executable code, making implementation more efficient and cost effective.

The solution’s strong alignment with global regulatory standards enables institutions to navigate complex reporting rules, helping firms to automate workflows, minimise manual intervention, enhance accuracy and boost operational efficiency. The solution supports reporting regimes across the US, EU, UK, Japan, Australia, Singapore, Hong Kong, Canada and Switzerland.

“ISDA’s solution stands out for its forward-thinking design and ability to reduce the time, resources and cost needed to implement regulatory reporting requirements,” said a judge on the Regulation Asia Awards panel. “Through automation and a commitment to high data standards, ISDA sets a new benchmark in regulatory compliance.”

This award underscores the importance of regulatory reporting solutions that prioritise accuracy, efficiency, and adaptability. “Solutions like ISDA’s, which support institutions in achieving compliance while streamlining reporting workflows, play a crucial role in the future of regulatory reporting,” said Bradley Maclean, Co-founder of Regulation Asia and the Awards Committee Chair. “By addressing both current demands and future challenges, ISDA’s solution exemplifies the innovation needed to sustain a resilient financial sector.”

About the Regulation Asia Awards for Excellence 2024

The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.

For a full list of the award 2024 winners, visit www.regulationasia.com/awards.

About Regulation Asia

Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 13,000+ subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.

Visit www.regulationasia.com or connect via LinkedIn or Twitter.