DTCC, REGnosys on ESMA’s “report once” simplification push

The European Securities and Markets Authority (ESMA)’s latest report on the simplification of transaction reporting places a renewed focus on the need to make regulatory reporting more consistent, reusable, and efficient across Europe.

In Finadium, our CEO and Founder, Laurent-Olivier Labeis, discusses how a ‘report once’ model could help reduce duplication across Europe’s reporting regimes.

Across regimes such as SFTR, MiFIR and EMIR, firms are still dealing with duplicated interpretation, repeated reconciliation and unnecessary complexity.

As Leo notes, SFTR has brought into sharper focus the limitations of a reporting model built on duplicated interpretation and reconciliation, rather than shared understanding.

The challenge now is turning the ‘report once’ ambition into a practical framework that improves data quality, reduces burden and still gives supervisors the detail they need.

That is where common data models, Digital Regulatory Reporting (DRR) and shared standards such as the Common Domain Model (CDM) can play an important role, helping make reporting more standardised, reusable and consistent across regimes.

Find the full ESMA report here: https://www.esma.europa.eu/press-news/esma-news/esma-identifies-eu1-billion-potential-annual-savings-simplifying-eu