DealHub Smart Trade Reporting is designed to upgrade existing straight-through processing (STP) systems to handle increased reporting requirements, the need for two-way reporting between clearing houses (CCPs) and swap data repositories (SDRs), and speedy access to trade data when required by regulators. The focus for FX participants has been about the external connectivity to CCPs and SDRs but, according to Patrick Philpott, president of DealHub USA, their demands are turning to internal workflow challenges resulting from the new reporting obligations.
“To get all your non-spot traffic to a trade repository, with all the right data, within 15 minutes, and to manage all the subsequent updates in the reporting lifecycle, there’s a huge amount of new process that needs to be built in to bank systems,” he says.
The DealHub service will extract this workflow into a single middleware layer and minimize the impact on core trading systems. This is said to be an easily implemented solution that ensures customers are compliant on day one, and has the flexibility to adapt as regulations develop.
Founded in the 1990s, DealHub offers a range of pre- and post-trade services in FX. These include STP, real-time business intelligence and analysis, and high-performance trade-execution solutions.