Bloomberg Acquires Regulatory Reporting Specialist RegTek.Solutions

regtekBloomberg has acquired regulatory reporting solutions provider RegTek.Solutions to expand the range of services offered by Bloomberg across multiple jurisdictions around the world.

The software, which supports compliance with current and upcoming regulatory reporting requirements built around actionable regulatory intelligence, will be integrated with Bloomberg’s Regulatory Reporting Hub (RHUB), as well as Bloomberg’s enterprise data management and trading systems.

Bloomberg clients will have access to a fully electronic reporting workflow including transaction reporting eligibility, data validation, enrichment, and reconciliation, to help them maximize accuracy and completeness in their reporting obligations.

Alejandro Perez, Global Head of Post-Trade Solutions at Bloomberg, commented: “The combination of RegTek.Solutions with Bloomberg RHUB allows us to substantially expand our regulatory reporting coverage, and offer quality and control tools to help our clients effectively meet the wide range of global reporting requirements. As regulations become more complex, buy- and
sell-side firms are looking for providers who can help them address requirements across various jurisdictions, with the necessary workflows and data structure that allows firms to maximize overall accuracy and completeness in their regulatory processes.”

Brian Lynch, co-founder and CEO at RegTek.Solutions, said: “RegTek has built an award-winning product and impressive, tier-1 client base. Combining our solutions with the strength and scale of Bloomberg’s RHUB services, as well as access to their market data, enterprise data management, analytics and enrichment capabilities will allow us to offer the cross-jurisdictional, cross-asset solutions that our clients demand. We can now continue to deliver sustainable compliance at a scale that will have a fundamental market impact.”

In April 2018, Bloomberg announced a joint venture with CBOE’s Bats that allows their customers to use the companies’ Approved Publication Arrangements (APA) to fulfil MiFID II transparency reporting requirements. Bloomberg’s Regulatory Hub (RHUB) connects to Bloomberg Approved
Publication Arrangement (APA)2 and Approved Reporting Mechanism (ARM)3 for transparency and transaction reporting.

In late 2018, the Depository Trust & Clearing Corporation (DTCC) partnered with RegTek.Solutions, along with Broadridge, FIS Global, Murex, and SimCorp, to further support our mutual clients with forthcoming Securities Financing Transactions Regulation (SFTR) obligations, which are anticipated to take effect in Q1 2020. The firm joined EquiLend, IHS Markit, Pirum and Trax as partners linking to DTCC’s GTR service in support of SFTR requirements.