With the first update of the year in mid-February, Bellin said that various new functionalities are being added to its tm5 software, including functionality for European Market Infrastructure Regulation (EMIR) reporting, corporate payments and trade finance.
The group said that it has already integrated all related reporting and information functionality into the standard tm5 solution in time for 12 February 2014, when the reporting obligations introduced by EMIR will take effect.
The system automatically generates reports according to the European Securities and Markets Authority’s (ESMA) requirements. Using a direct connection to the REGIS-TR trade repository, customers can transfer this data directly and at significantly lower rates than if they maintain their own trade repository account. “This makes us the first treasury management system provider to offer a complete solution for mandatory EMIR reporting,” said group founder and managing director, Martin Bellin.
“We have hosted webinars to inform and train our customers affected by the regulations, and most of them are relaxed with regard to EMIR.”
Other updates include offering extended contract management functionality, with the Bellin matching service now available in the standard system for all customers. Customers can enter and submit their deal data to the bank electronically and receive the appropriate confirmation in return.
Timely electronic status reports indicate that the transaction data matches has become available in the system. “This is another important component which makes meeting the EMIR requirements as comfortable as possible,” said Martin Bellin.
Having launched a direct connection last September between tm5 and SWIFT, Bellin says that the trend is to no longer use SWIFT only for global payments but also as a network increasingly relevant for trade finance transactions.
“In addition to transmitting data for trade finance transactions via electronic banking internet communication standard [EBICS], our customers have all the functionality they need for structured communication via SWIFT. This opens up a whole new dimension for global banking,” said Martin Bellin.
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