Capital markets & Banking technology specialist Sensiple Inc. is bringing its RegTech product SETREGA for MiFID II, SFTR & EMIR compliance & reporting process to the strategically important FR2 data center in Frankfurt, thanks to a new agreement with Transaction Network Services (TNS).
Sensiple will avail TNS’ managed hosting, colocation and connectivity service to give market participants fast, secure and efficient access to its critical Regtech system which is designed to integrate with any financial services firm which includes Buy/Sell-side & Venues. It can collect, transform & process the regulatory data and generate regulatory reports in specific formats with minimal customization thus making firms to adopt RegTech infrastructure quicker & simpler . It can also provide monitoring & governance for various compliance requirements for any financial institution.
“This is an exciting step forward for us as we work to make MiFID II compliance easier for financial market participants operating in Europe,” “Our Goal is to help different types of Capital Markets participants to adopt regulatory compliance in a cost effective manner, where cloud infrastructure would enable them to adopt RegTech in a simpler and faster manner while developing Error free and on time reports in a secured way” said Kumaraswamy, Managing Director & COO at Sensiple.
“SETREGA is configured to MiFID II, SFTR and EMIR, as well as BASEL 123 and the Dodd-Frank Act requirements, making it a highly focused and critical tool for banking institutions, buy and sell-side firms and the venues themselves. SENSIPLE also offer other array of products like PhiFIX Multiprotocol solutions, PHOKAST post-trade solution for buy/sell-side & venues & Swapcue as it mobility, trading & wealth management platform.
“We have partnered with TNS because of its ability to offer a secure SaaS based model that reduces our CapEx investments and future-proof our service offering. TNS delivers a fully managed, cost-effective, technologically advanced solution and brings the added benefit of its extensive secure trading extranet.”
MiFID II requires firms to replace traditional manual reporting with automated end-to-end processes that include data collection, validation, report generation and submission. It is critical that the systems adopted are error-free, easy-to-use, deliver on-time reports and include better validation checks to ensure compliance.
Stefano Durdic, Managing Director of TNS’ Financial Services business, said: “We are delighted to be working with Sensiple. Today’s announcement addresses the significant demand for access to innovative and cost-effective solutions that can reduce the burden that MiFID II, SFTR & EMIR has placed on firms.
“TNS’ solution is a flexible and scalable approach that will support Sensiple as demand evolves. Over the next five years Sensiple anticipates Europe to be one of its biggest growth areas as further new regulations are expected to be imposed on the continent. We look forward to responding to this demand and helping the financial markets meet the challenge of MiFID II.”
TNS’ solution replaces Sensiple’s existing client-hosted model. This will shorten Sensiple’s customer onboarding process and provide further competitive advantage by making Sensiple one of the few providers that can offer a cloud-based solution. Existing on-net TNS customers wishing to use the SETREGA service will be able to establish a connection within a matter of days. This engagement with TNS will also help SENSIPLE to offer its solutions in a global scale which includes Americas, Asia Pacific & Middle East & African regions.
Optimized for electronic trading, TNS’ robust secure network is relied on by the global financial markets for mission-critical connectivity to multiple diverse trading partners. Many of the world’s most prominent and influential buy- and sell-side institutions, market data and software vendors, exchanges and alternative trading venues have selected TNS’ network. Resilient connectivity is assured by there being no single point of failure across the TNS core network and by connected firms choosing from a variety of diverse physical connections.
TNS’ multi-asset class connectivity platform supports market data, FIX connectivity and all trading protocols. TNS’ services are supported by 24x7x365 monitoring and helpdesk support. TNS’ team have been actively involved in the FIX Trading Community for many years and regularly participate in industry events and serve on working group committees. To find out more visit www.tnsfinancial.com.
About Transaction Network Services:
Transaction Network Services (TNS) is a leading global provider of data communications and interoperability solutions. TNS offers a broad range of networks and innovative value-added services which enable transactions and the exchange of information in diverse industries such as retail, banking, payment processing, telecommunications and the financial markets.
Founded in 1990 in the United States, TNS has grown steadily and now provides services in over 60 countries across the Americas, Europe and the Asia Pacific region, with our reach extending to many more. TNS has designed and implemented multiple data networks which support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods.
For further information, please contact:
Clare Cockcroft / Rachel Watson
PR Director PR Manager
T: +44 (0)114 292 0163 / +1 703 814 8065
Sensiple Inc. is a world class FinTech solution provider based out of New Jersey, offering state-of-the-art technology solutions and IT services across BFSI Industry. Sensiple’s expertise is built upon 2500+ man years of experience with center of excellence and dedicated R&D team. Sensiple offers solutions to client’s business needs across the entire spectrum of banking, financial operations and trading workflow complementing with latest technology which aids market participants to maintain a competitive advantage in the current scenario.
Sensiple Inc., a New Jersey corporation, established in 1999. Our footprints around the globe help us to ensure that we consistently maintain our delivery standards. We deliver IT products and services in the areas of Customer Experience, Digital & Enterprise Transformation, Infrastructure and Independent Testing from ideation to execution, giving our clients an edge to outperform the competition. To find out more, visit www.sensiple.com
For further information, please contact:
Naveen Chandhu Sivadasan
T: 044 4741 9000 Extn. 588