Application for registration of derivative trading

The Challenge

The requirements for reporting of trade with derivatives have increased concurrently with stricter legal conditions. As a consequence, the working procedures with registration and completion of the dealings have become more complex and time demanding. Sparekassen Kronjylland wanted a tool that both could meet the stricter legal requirements and help the advisors in the “Markets” department streamline the process of registration and validation of the dealings..

The Solution

Sparekassen Kronjylland got one system and one form to registration of all types of derivatives: Both their own, on behalf of own customers and on behalf of the customers from other banks. In cooperation with the advisors and the bank’s IT-department, Dataminds designed a web-application that supported the existing working procedures. This means that customers currently efficiently can load trading data and market information from different data sources in the same system. Moreover, reporting to other systems, including reporting to EMIR and KERNE through SDC, happens automatically.

The Value

The outcome is that, currently, advisors and other users can draw and share reports with others which creates an effective overview of the businesses. For instance: What is the current market value of a business, ongoing reporting to credit where costumer level is aggregated and what a customer has earned or lost through a period. Everything is handled efficiently in the same web-application which means that advisors can spend more time on counselling the customers.