ISDA DRR Wins Best Regulatory Reporting Initiative at 2024 Regulation Asia Awards

As reported in Regulation Asia on the 4th November.

The International Swaps and Derivatives Association (ISDA) was awarded Best Regulatory Reporting Initiative at the 7th Regulation Asia Awards for Excellence 2024, celebrated in person on 4 November 2024, for its industry-leading approach to compliance, automation, and scalable management of regulatory reporting requirements. 

This award recognises initiatives that set new benchmarks in regulatory compliance, data accuracy, and efficiency, helping institutions meet rigorous regulatory reporting standards while enhancing operational processes through innovation and adaptability. 

ISDA was awarded Best Regulatory Reporting Initiative for its Digital Regulatory Reporting (DRR) solution, which uses the open-source Common Domain Model (CDM) to transform industry-agreed interpretations of regulatory reporting rules into machine-executable code, making implementation more efficient and cost effective. 

The solution’s strong alignment with global regulatory standards enables institutions to navigate complex reporting rules, helping firms to automate workflows, minimise manual intervention, enhance accuracy and boost operational efficiency. The solution supports reporting regimes across the US, EU, UK, Japan, Australia, Singapore, Hong Kong, Canada and Switzerland. 

“ISDA’s solution stands out for its forward-thinking design and ability to reduce the time, resources and cost needed to implement regulatory reporting requirements,” said a judge on the Regulation Asia Awards panel. “Through automation and a commitment to high data standards, ISDA sets a new benchmark in regulatory compliance.” 

This award underscores the importance of regulatory reporting solutions that prioritise accuracy, efficiency, and adaptability.

“Solutions like ISDA’s, which support institutions in achieving compliance while streamlining reporting workflows, play a crucial role in the future of regulatory reporting,” said Bradley Maclean, Co-founder of Regulation Asia and the Awards Committee Chair.

“By addressing both current demands and future challenges, ISDA’s solution exemplifies the innovation needed to sustain a resilient financial sector.” 

Read more here.