Set up a future-proven compliance strategy now.
EMIR Refit is a complete transformation totally changing the EMIR regulatory reporting obligations you are currently familiar with.
The European Market Infrastructure Regulation (EMIR) is transforming the total number of required reconciliation fields, which has already grown from 80 to 129, with much more to come. There is an additional increase of 64% more fields on the way to further increase the total number to 203 fields by 29th April 2024.
A further 90 changes to the format, field name, or field definitions means that 87% of fields used for EMIR regulatory compliance are new or different. So you can forget about relying on any previous experience or existing regulatory reporting solutions as the complexity will dramatically increase far beyond what it was in the past.
Do-It-Yourself compliance is about to get expensive.
Regardless if you have in-house expertise or external consulting solutions, the increased demands of EMIR REFIT is going to stretch your existing resources even further. As compliance service costs increase, it will become even harder to add value to your core business.
With an increase in reconciliation effort of over 40% per transaction, just maintaining the status quo for is going to require further investments and expenses, which means more resources are needed for training, leaving you trapped in a vicious circle.
Avoid taking on the compliance risk of EMIR Refit readiness on your own, because regardless if you’re focusing on EMIR UK, EMIR FCA, or Emir Reporting for Swiss – the deadlines and risks of fines keep getting closer.
We always keep you compliant.
Being compliant is a continuous and laborious effort at the best of times, but with something as complex as EMIR Refit on the horizon your compliance risk is going to increase.
With an ever-growing list of regulations from a growing list of origins, whether it’s a new European legislation from ESMA or changes triggered by BREXIT fallout, the onus is still on you to remain compliant – and these changes don’t always wait in line.
All it takes is for one bad implementation to hurt your reputation, your business, and even your future growth potential – and you won’t know it’s happening until it’s too late.
Don’t just REFIT EMIR, REFIT your Compliance.
Total Cost of Ownership (TCO) is theoretically one of the best and clearest ways to address cost sensitivity, it’s your best friend because numbers don’t lie – and has never been more important than for the EMIR Refit.
But TCO also needs clear insights into cost drivers, which is impossible when most regulatory reporting solutions involve human resources moving the work along – a particularly common phenomenon with compliance topics (aka consulting compliance).
Hidden costs like the time cost of IT tenants who need to set up, support, and maintain systems, or indirect ones like reporting specialists or compliance service costs, result in misleading TCO indicators and completely destroys any hope of having a truly clear cost of compliance.
The TCO transparency you deserve.
Break the circle
There is a way to stop worrying about EMIR REFIT and future regulatory reporting, reconciliation, and compliance changes.
The ISO 27001 accredited and FINMA-RS 18/3 certified deltaconX regulatory platform has all the expertise built in, and everything is kept up to date and compliant for you.
Reduce costs, efforts, and compliance risks with a trusted SaaS-based platform designed to streamline workflows and engineered to free up your existing resources to focus on your core business again.
Our regulatory reporting solution lets you forget about long and painful migration processes. With a team of experts to guide and support you along your tailored onboarding path in either English or German, benefitting from our service is quicker than you think.
We already cover 57% of all the mandated EMIR REFIT changes with a proven track record across clients and repositories, making deltaconX the smart choice for futureproofing your compliance.
Take the first step toward focusing on your core business again.