TNS Enables Sensiple to Bring Vital MiFIDII Compliance Solution to Frankfurt Data Center
RESTON, Va.--(BUSINESS WIRE)--Aug 20, 2019--
Capital markets and banking technology specialist Sensiple Inc is bringing its Regtech product SETREGA for MiFIDII, SFTR and EMIR compliance and reporting to the strategically important FR2 data center in Frankfurt as part of a new agreement with Transaction Network Services (TNS).
Sensiple will use 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, including buy/sell sides and venues. It can collect, transform and process regulatory data and generate regulatory reports in specific formats with minimal customization, making it quicker and simpler for firms to adopt a Regtech infrastructure. It can also provide monitoring and governance for various compliance requirements for any financial institution.
“This is an exciting step forward for us as we work to make MiFIDII compliance easier for financial market participants operating in Europe,” said Mr. Kumaraswamy, Managing Director and Chief Operating Officer at Sensiple. “Our goal is to help different types of capital markets participants adopt regulatory compliance cost effectively, where cloud infrastructure would enable them to use Regtech in a simpler and faster manner while developing secure, error free and on time reports.”
SETREGA is configured to MiFIDII, 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 trading venues themselves. SENSIPLE also offers other products like PhiFix Multiprotocol solutions, PhoKast post-trade solution for buy/sell-side firms and trading venues, and Swapcue, a mobility, trading, and wealth management platform.
Mr. Kumaraswamy added, “We have partnered with TNS because of its ability to offer a secure SaaS based model that reduces our CapEx investments and future-proofs our service offering. TNS delivers a fully managed, cost-effective, technologically advanced solution and brings the added benefit of its extensive secure trading extranet.”
MiFIDII 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 of MiFIDII, SFTR and EMIR compliance.
“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 current and evolving regulatory challenges.”
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 offer its solutions globally, including across the Americas, Asia Pacific, Middle East and 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. TNS’ services are supported by 24x7x365 monitoring and helpdesk support. 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.
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 was an early adopter of FIX protocol and is credited for developing the world’s biggest OTC exchange for US, LATAM & Paris markets. 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190820005325/en/
CONTACT: For further information please contact:
T: +44 (0)114 292 0163 / +1 703 814 8065
Associate Manager-Business Technology
T: +1 7322830801 (Extn:588)
KEYWORD: INDIA NORTH AMERICA ASIA PACIFIC EUROPE UNITED STATES UNITED KINGDOM VIRGINIA
INDUSTRY KEYWORD: SOFTWARE BANKING NETWORKS MOBILE/WIRELESS PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCE CONSULTING
SOURCE: Transaction Network Services
Copyright Business Wire 2019.
PUB: 08/20/2019 04:03 AM/DISC: 08/20/2019 04:03 AM