DTCC Acquires Sapient's Platform for Compliance Management Reporting

Post-trade market infrastructure provider Depository Trust & Clearing Corporation (DTCC) announced on Tuesday that it has acquired Publicis Sapient's Compliance Management Reporting System (CMRS). The financial services firm will integrate the system with its Report Hub service to create the industry's most comprehensive pre and post trade reporting solution.

With the acquisition, the DTCC Report Hub service will provide an extensive suite of pre and post trade reporting capabilities with the largest jurisdictional and regulation coverage, including Markets in Financial Instruments II (MiFID II), and other mandates in the United States, Europe, Canada, Australia, South Korea (subject to implementation of final regulations) and Hong Kong, among others. 

"As national and global regulatory demands continue to increase, firms need a solution to help them simplify the complexities of their pre and post trade reporting processes," said Chris Childs, Managing Director, Head of Repository & Derivatives Services, DTCC. "CMRS is an established platform that, when integrated with the DTCC Report Hub service, will provide the industry with a proven pre and post reporting service that offers unrivalled asset and jurisdictional coverage."

Under the terms of the acquisition, Publicis Sapient will serve as a strategic partner to DTCC by continuing to support, maintain and develop enhancements to the technology platform. 

"The combined trade reporting and consulting experience that DTCC and Publicis Sapient contribute to the existing technology platform will create a single, highly efficient, evolving, comprehensive reporting solution that will help clients manage the complexities of meeting multiple regulatory mandates across jurisdictions," said Randall Orbon, Head of Strategy at Publicis Sapient.

DTCC plans to begin integrating CMRS with the existing DTCC Report Hub service immediately. The expanded solution will interface with registered trade repositories and an Approved Reporting Mechanism (ARM), allowing firms to access a wide range of services, including pre-reporting facilitation, report generation and submission, automated reconciliation, and data analytics creation.