Liechtenstein-based IT service provider has chosen BearingPoint RegTech´s ABACUS/Transactions as a full-service solution for MiFIR transaction reporting to support asset managers in fulfilling their reporting obligations.
Since 2018, the Markets in Financial Instruments Regulation (MiFIR) obliged investment firms to report daily transactions in certain financial instruments to the competent supervisory authority, i.a. to the Financial Market Authority in Liechtenstein. CSL partnered with BearingPoint RegTech to support their clients in meeting the new reporting obligation with a fully automated MiFIR reporting tool.
CSL chose ABACUS/Transactions, BearingPoint RegTech’s proven solution for transaction reporting. The solution is provided as Regulatory-as-a-service (RaaS), which means that BearingPoint RegTech is responsible for the hosting of the software as well as all tasks and processes of technical operation, infrastructure services, application management and support.
As a result, both CSL and their clients could benefit from the implemented solution. CSL’s clients can now submit their daily MiFIR reports on one platform accurately and on time. CSL's expanded service offering has also resulted in increased customer satisfaction. Finally, the new service enabled CSL to address new market segments and acquire new customers.
Read more about the use and advantages of ABACUS/Transactions at CSL in our new case study, which is now available for download.