Confluence has launched Unity NXT, a regulatory reporting platform to help clients prepare for the more complex disclosures required under the new European Securities and Markets Authority (ESMA) Money Market Fund Regulation (MMFR).
In Q1 2020, European MMFs will be required by ESMA to provide detailed information on performance, liquidity, stress test results and holdings level-data.
Unity NXT is designed to ease data management challenges and automate the filing processes for global regulatory reporting obligations.
Todd Moyer, Confluence’s president and COO, said: “The powerful Unity NXT Regulatory Reporting Platform will help MMFs and administrators meet the short implementation time frame and automate what could otherwise be a costly, error-prone manual preparation.”
He added: “We’re excited to offer this new solution that leverages the accessibility and ease-of-use of our Unity NXT regulatory reporting platform to help our clients meet their MMFR Article 37 reporting requirements.”
Article 37 reporting applies to any MMF authorised in the EU under UCITS directive or the Alternative Investment Fund Managers Directive, with reporting required quarterly for MMFs with over €100 million in assets under management and annually for MMFs below €100 million.