Transaction reporting advanced data analytics

In Banking and capital markets

The EY Transaction Reporting Advanced Data Analytics platform helps firms meet their global trade and transaction reporting governance and control requirements in a scalable, high-value, cost-effective, auditable manner that provides actionable insights and recommendations.

Related topics Banking and capital markets Consulting Risk Risk and regulation in banking Wealth and asset management

The team

David Williams

David Williams

EY UK Banking & Capital Markets Technology Consulting Leader

Christopher Woolard CBE

Christopher Woolard CBE

Partner, Financial Services Consulting, EY LLP; EY Global Financial Services Regulatory Network Chair and EY EMEIA Leader, Financial Services Regulation

Kara Cauter

Kara Cauter

EY EMEIA Capital Markets Consulting Partner; EMEIA Financial Services Compliance and Conduct Leader

What EY can do for you

Trust in financial services has never been more vital. This is especially true for global trade and transaction reporting. Regulators need complete, accurate and timely reporting to detect market abuse, insider trading and monitor systemic risk. Robust reporting underpins market integrity that society, consumers and regulators rely on.

In addition to the requirement to produce reports, there is a regulatory expectation1 for firms to perform end-to-end testing of their trade and transaction reporting processes. Reporting integrity is another aspect which will be highly visible to regulators and is an area of likely scrutiny.
Many firms are unaware or underprepared to demonstrate completeness, accuracy and timeliness of reports to regulators and the regulators are using data profiling techniques to review the quality of submissions.

The EY Transaction Reporting Advanced Data Analytics platform uses advanced data analytics to test the quality of reporting. It tests full populations of data for global regulations.

Our technology-enabled service:

  • Reviews your firm’s trade and transaction reporting
  • Offers an automated, high-volume, broad quality test platform for:
    • Completeness, accuracy and timeliness
    • Advanced data profiling
  • Analyzes global transaction reporting regimes
  • Provides a broad service offering for all reporting aspects and a service delivery capability across the globe
     

  • How the EY Transaction Reporting Advanced Data Analytics platform works

    Transaction reporting infographic

    The EY Transaction Reporting Advanced Data Analytics platform covers the full range of reporting testing that regulators expect — completeness, accuracy, timeliness — and it deploys leading technology techniques to analyze business activity and data integrity. It is customizable to your firm’s business and keeps pace with the latest regulatory requirements.

    Regulators are increasingly using sophisticated data analytics to spot trade and transaction reporting errors. That’s why market-leading controls, using the latest technology, are critical.

  • Key benefits of the platform

    With EY Transaction Reporting Advanced Data Analytics, you benefit from next-generation technology to increase the confidence and trust you have in your reporting. Our solution:

    • Includes built-in rules of global reporting requirements and scenarios, and supports customization of firm-specific scenarios
    • Uses adaptable business logic for consistent broad testing across asset classes
    • Is based on automated test rules to handle high volumes, up to daily testing
    • Is based on consistent test rules that can ingest various file formats
    • Helps investigators visualize and identify root causes more quickly
    • Includes adaptable management information and key performance indicators (KPIs) to evidence compliance

    Other benefits include:

    • Greater confidence over reporting integrity
    • Consistency with peer reporting
    • Increased confidence through substantive testing of large populations
    • Quicker, easier and cheaper to perform regression testing of changes
    • Quicker resolution of issues at lower cost
    • Evidence-based management information

  • Why EY teams

    EY teams have deep experience of global trade and transaction reporting. Our platform includes reporting logic on the basis of the intellectual property we have built up from working with investment banks, asset managers and market infrastructure firms.

    Our teams understand the challenges you face, including:

    • Different market interpretations of regulation
    • Differing requirements across asset classes and products
    • Enhanced infrastructure to perform repeatable and high-volume automated testing
    • The need to map, source and standardize various data formats and taxonomies
    • Time-intensive and costly root cause analysis and exception management
    • Oversight and governance to monitor compliance on an ongoing basis

    We offer a range of service models that we can tailor according to your needs.

  • Show references#Hide references

    1. Article 15(3) of Commission Delegated Regulation (EU) 017/590 of 28 July 2016 supplementing MiFIR with regard to regulatory technical standards for the reporting of transactions to competent authorities.

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