As financial markets reform edges closer to completion, firms in the derivatives space are looking for technology and solutions that will help meet the new reporting and compliance requirements.
Michael Lacson, director of presales, Protegent, of SunGard Capital Markets talks about how his firm developed compliance technology to deal with the new financial rules set by Dodd-Frank, as well as ESMA, EMIR and MIFID in Europe and those in Asia. The key, he says, was to find the balance between creating flexible technology that firms can adapt to new market regulation and technology that can be integrated into the back office and compliance functions.
Lacson spoke with JLN editor-in-chief Jim Kharouf about SunGard’s Protegent Compliance Platform, which features core components as well as key functions that are designed for compliance officers. The system, he says, is designed to change and adjust to new rules or changing regs that may come along in various asset classes.
The new solution can address workflow, different levels within organizations, dashboard reporting and administration. The system can also help firms manage elements such as market abuse, insider trading, sales practices, best execution, trade cost analysis, policy management and social media surveillance.
Lacson says the Protegent system is designed to be managed and operated by the firms themselves, allowing for the customization each firm needs, which is somewhat unique in the technology solutions space.
“We see it as empowering our customers to react as quickly as they need to,” Lacson says.
In the end, SunGard hopes the solution will help address a growing need in the industry for regulatory and compliance technology globally.