SmartStream has launched its new RegRegistry Service, aimed at helping financial institutions streamline their regulatory compliance processes.
The launch of the RegRegistry Service comes in response to increasing regulatory complexity and the growing demand from financial firms for solutions that simplify compliance and ensure data accuracy. With firms facing evolving requirements across multiple jurisdictions, SmartStream developed the new offering to help organisations manage regulatory data efficiently.
Founded to support financial services firms with innovative data management solutions, SmartStream specialises in delivering technology that simplifies and automates complex post-trade operations. Its suite of solutions supports transaction lifecycle management, reference data, reconciliations, and cash and liquidity management.
The RegRegistry Service consolidates multiple regulatory indicators, including counterparty and venue classifications, from leading global authorities such as ESMA, FCA, GLEIF, CFTC, and ISO MIC. It enables firms to accurately identify counterparties and trading venues in accordance with regulatory requirements across transaction reporting and post-trade processes.
The new solution resolves a key industry challenge – the inconsistency and asynchronous updates of regulatory data sources, which often lead to errors and increased operational risks. By automating the collection, validation, and delivery of regulatory data, the RegRegistry Service helps reduce counterparty risk while delivering accurate classifications for legal entities and trading venues. It also highlights changes and cross-references datasets using LEIs, MICs, and ISINs to allow seamless integration.
Designed to meet obligations across a wide range of regulatory frameworks including MiFID II, MIFIR, EMIR Refit, SFTR, and the Dodd Frank Act, the RegRegistry Service covers over 20 reportable attributes. The service is available with flexible subscription options and integration methods, including REST API, file-based service, and user interface, catering to varying client needs.
SmartStream also provides access to its regulatory subject matter experts, enhancing the overall service through technology-driven data sourcing, validation, and operational support.
SmartStream executive vice president Linda Coffman said, “With evolving regulatory requirements, our clients needed a solution that simplifies compliance, while ensuring data accuracy. The RegRegistry Service answers this demand by automating the collection and tracking of regulatory registry updates daily – reducing the burden on firms. By providing accurate and continuously updated data, we help ensure firms remain compliant amid ever-changing global regulations.”
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