NEX Regulatory Reporting to Utilize Duco Cube for MiFID II Reconciliation Solution

LONDON–()–NEX Regulatory Reporting, a NEX
Group
business which provides regulatory reporting services across
worldwide regulatory regimes, and Duco,
the global provider of self-service data normalization and
reconciliation services, today announce that NEX Regulatory Reporting is
to use Duco’s technology to provide MiFID II reconciliation to their
clients.

Reconciliation is a mandatory activity under MiFID II. The joint
offering will use Duco’s reconciliation platform, Duco Cube, as a “black
box” through its API. As a result, NEX Regulatory Reporting clients will
receive a seamless reporting, validation and reconciliation experience
for MiFID II through the new NEX Regulatory Reporting integrated user
interface. Clients will also be able to get full access to a dedicated
Duco Cube instance for more complex requirements, such as MiFID-related
internal controls or clean-up activities.

Collin Coleman, CEO of NEX Regulatory Reporting, said: “What sets us
apart in the market is our understanding of both regulation and
technology and our strong focus on the end-to-end experience. By working
with Duco, we will be able to scale fast and provide our rapidly growing
client base with strong independent verification based on best-of-breed
technology – all up and running long before the January 2018 deadline
for MiFID II.”

Christian Nentwich, CEO of Duco, said, “Duco Cube is particularly suited
to the high volume, high complexity requirements imposed by MiFID II.
Many of our clients rely on Duco Cube for regulatory reporting
reconciliations under EMIR and MiFID today, and we are pleased to bring
this technology to a wider audience in partnership with NEX Regulatory
Reporting. This collaboration is a good example of the modern API
economy and the rapid time to market provided by combinations of
Software as a Service offerings.”

About NEX Regulatory Reporting

NEX Regulatory Reporting, a NEX Group business, operates within NEX
Optimisation, which helps clients simplify complexity and optimise
resources. Powered by Abide Financial, NEX Regulatory Reporting platform
lowers costs, eliminates operational risk and provides regulatory
reporting effectiveness. Through the business’s multi-regime reporting
hub, regulatory obligations are translated into future proof compliant
solutions while its specialist advisory teams interpret the impact of
evolving markets regulation relating to trade and transaction reporting.
In addition to local European regulatory environments (EMIR, MiFID/II,
SFTR, REMIT), NEX Regulatory Reporting provides specialised reporting
services for entities subject to international regulatory regimes such
as Dodd Frank, ASIC (Australia) and MAS (Singapore).

About NEX Group

NEX Group plc offers customers better ways to execute trades and manage
risk. Our products and services underpin the entire trade lifecycle
pre-, during and post-execution. Our electronic trading platforms are
industry standards. Customers use our lifecycle management and
information services to optimise portfolios, control risk and reduce
costs. We partner with emerging technology companies to bring greater
efficiency, transparency and scale to the world’s capital markets. NEX
is headquartered in London with offices worldwide.

About Duco

Duco’s mission is to make managing data easy. As the market leader in
self-service reconciliation, Duco empowers users to deal with complex
data in a fraction of the time required by traditional systems. New
clients are live in 24 hours, with reconciliations in production in 7
days and return on investment in 30 days. Customers include
international banks, brokers, exchanges, hedge funds, asset managers,
fund administrators, payments companies and corporates. Headquartered in
London, with offices in New York and Luxembourg, Duco serves clients
throughout Europe, the United States, Africa, Asia, the Middle East and
Australia.



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