Increase Reporting Accuracy and Efficiency
U.S. domiciled financial companies deemed in-scope for compliance with Qualified Financial Contract (QFCs) Recordkeeping and Reporting must generate a daily report for linking governing agreements and other related information for each reportable QFC position. However, creating these reports can be a massive, time consuming burden given the complexity of and disparity between positions, collateral, agreements, and guarantees.
Transcend has enabled firms to seamlessly meet QFC Recordkeeping requirements by capturing, harmonizing, and linking all required positions, collateral, agreements, and reference data for in-scope products. With independent validation of reports against the latest specifications, Transcend ensures that reports submitted via the system are accurate.