It’s just over a year and a half since we launched the first of our BMR products: RegFocus BMR Control. In that time, we’ve picked up no fewer than three awards for the service, which provides all benchmark users the benchmark inventory management, enrichment and control capabilities they need to comply with the EU Benchmarks Regulation (BMR).
Over the past year, we’ve had further great news regarding RegFocus BMR Control – and we can now add two new gongs to our trophy cabinet. First, we were voted ‘Best Sell-Side Newcomer’ at the Waters Sell-side Awards, which was held on April 12. Then, on May 2 we won the ‘Best Vendor Solution for Benchmarks Regulation’ category at the A-Team RegTech Insights Awards.
We now have a total of five awards in the bag for RegFocus BMR Control. This is exceptional third-party recognition that our capabilities in this area really do offer something unique and highly valuable to firms affected by the Regulation.
We have two BMR solutions which do different things to suit the varying requirements of both the buy- and the sell-side businesses we work for.
RegFocus BMR Control is our flagship BMR service; offering a complete benchmarks validation solution. The service delivers a range of capabilities to enable rapid and low-cost compliance with the Regulation including:
- Inventory management: we provide a complete overview of a clients’ benchmark universe, along with classification according to key attributes such as use, source, type and family. The service immediately alerts firms to their risk exposure under the Regulation.
- Validation: ensures that every benchmark used by customers is properly registered and administered under BMR, giving firms peace of mind that the benchmarks they use are fully compliant.
- Substitutes: our correlation technology enriches customers’ inventories with a list of appropriate equivalent benchmark for all authorized benchmarks.
- Inventory enrichment: users can enrich key attributes of one or a set of benchmarks, such as use, source, AUM and system, by adding data.
However, we realize that not all firms will need to leverage all the features of BMR Control, due to their operational requirements or existing capabilities. We therefore launched a second BMR product towards the end of last year: RIMES RegFocus BMR Data Feed which provides users with every BMR-compliant index in a single feed.
The new service helps firms see at-a-glance which individual benchmarks are compliant with BMR – information they can’t currently get from the ESMA Register. It also helps companies identify an index where no standard identiﬁer (e.g. ISIN) has been mandated by BMR.
Both services are successful because they leverage what RIMES does best: data management at scale. Whether it’s identifying and classifying the full spectrum of benchmarks and indices used at a firm or mapping index reference codes across all official symbols and then cross-checking these with data from our 400 partners, our services do all the heavy lifting for clients – at whatever scale they need and to suit their unique requirements.
We’re hugely proud of our BMR capabilities and the recognition they have received in both the buy- and sell-sides of the industry. If your firm is struggling with the challenges of BMR compliance, then we invite you to give us a call and see how we can help – you won’t be disappointed.
Contact us to receive more information about RIMES RegFocusSM BMR Control, the most advanced benchmarks validation solution on the market, which solves all regulatory obligations under the new Benchmarks Regulation.
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