Singapore/Hong Kong, 14 November 2019 – IHS Markit has won Best Solution in Trade Reporting and an Outstanding Project award for Risk Calculation in the 2nd Regulation Asia Awards for Excellence 2019 at a ceremony in Singapore on 13 November 2019.
In the hotly-contested Best Solution in Trade Reporting category, IHS Markit emerged as the winner for delivering a complete reporting workflow for clients across their submission, data management, reporting reconciliation and monitoring tools.
The solution, Markit Integrated Reporting, “MIR”, delivered in conjunction with Catena Technologies, is part of the MarkitServ suite of products that supports more than 3000 financial firms, including the largest global banks, sovereign wealth funds, corporates and hedge funds. The solution supports transactions across all asset classes, plus valuation and collateral reporting to multiple jurisdictions and all major repositories.
According to the judging panel, MIR also stood out for its ability to cost-effectively provide golden source data and identify and resolve reporting issues in a timely and efficient manner. In addition, the solution features best in class workflows, either hosted or deployed and backed up by a large team of subject-matter experts to provide guidance and ongoing support.
“The solution IHS Markit has developed and is currently offering to the market is particularly impressive as a one-stop service that simplifies a highly fragmented market by normalising data in a single platform,” said one judge. “What’s even more impressive is the quick integration process to enable full production usage. This not only helps it to gain traction but gives customers a tool they need and can engage with quickly.”
Julian Chesser, Managing Director and Head of MarkitSERV in Asia said: “The award is a testament to our ability to help clients meet their global regulatory reporting obligations across multiple legacy systems in a highly controlled, scalable and cost-effective manner. We are proud to be named the leading trade reporting solution provider in the Asia Pacific. We are particularly delighted that this product is managed in Asia and offered to our entire global network.”
IHS Markit was additionally recognised in the Outstanding Project category for Risk Calculation, for implementing a regulatory capital calculation tool that has already demonstrated compliance with Basel rules for market risk, which are not due to take effect until January 2022. The tool has additionally been implemented at major financial institutions for calculating counterparty risk exposures and measuring capital requirements across various financial instruments.
About the Regulation Asia Awards for Excellence 2019
Regulation Asia Awards for Excellence recognises technology companies, legal and consulting firms, and exchanges that have shaped the regulatory landscape in Asia Pacific, as well as outstanding technology projects both in mature and emerging markets by large tech firms and innovative startups that help meet the requirements of a specific regulatory change infrastructure.
For a full list of award winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. Since 2013, our audience and subscription base have grown to include regulatory bodies, exchanges, banks, asset managers and service providers, allowing us to play a key role in the regulatory agenda.
For more information, please contact:
Director, Programme Coordinator
+65 9023 4274