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Just in time for new collateral reporting requirements in Europe, post-trade services vendor Omgeo is offering an interface between its automated collateral and margin management solution, ProtoColl, and the DTCC’s Global Trade Repository (GTR) for derivatives.
ProtoColl clients can use the new interface to meet the upcoming European Market Infrastructure Regulation (EMIR) requirement for collateral reporting, say Omgeo officials. Under the EMIR legislation, most European market participants in derivatives transactions will be required to report collateral beginning August 11.
ProtoColl “links collateral across a firm with origination transactions/positions, and then reports this data to GTR, allowing its users to meet the EMIR requirement,” according to an Omgeo statement. This interface is intended to help firms track down collateral information often scattered across disparate systems.
“Omgeo ProtoColl offers its users a reliable and convenient new interface to GTR, seamlessly enabling the collateral reporting capabilities,” says Rick Enfield, executive director of ProtoColl Product Management at Omgeo. “New regulations have changed the way our clients manage their collateral, and Omgeo ProtoColl is adding new functionality to enable its users to conform to these new standards and create efficiencies in their operating environments, in Europe and around the globe.”
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