Genpact's Trade Status Reporting Solution Enables Banks to Comply with New Dodd-Frank OTC Derivatives Regulations

Published on Wednesday, 09 May 2012 08:35 Written by TradersHuddle Staff

Setting Industry Best Practice, Comprehensive Business Platform Combines Intelligent Technology, Smarter Processes, Analytics and Capital Markets Expertise for Effective Compliance

NEW YORK, May 9, 2012 /PRNewswire/ -- Genpact Limited (NYSE: G), a global leader in business process and technology management, has launched its Trade Status Reporting (TSR) Solution, a comprehensive offering that allows financial institutions trading on the over-the-counter (OTC) derivatives market to comply with the new regulations mandated by Title VII of the Dodd-Frank Act in the U.S., and recordkeeping and reporting requirements issued by the U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). The solution also positions Genpact to help clients with similar forthcoming regulations in Europe and Asia. 

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In an effort to bring transparency to the derivatives market, these rules will have a profound impact on the way market participants report and record their swap transactions in the U.S. OTC market. Genpact's TSR Solution combines a customized technology platform and capital markets compliance expertise from its Headstrong business with Genpact's business process management experience, analytics, and a global delivery model to ensure coverage to market participants across the globe. This flexible solution provides extensive regulatory compliance within the required deadlines – beginning with Compliance Date 1 on July 16, 2012 – without derivatives market clients needing to invest in costly back office and technology resources.

The Genpact TSR Solution, developed with input from several of Genpact's leading financial institution clients, enables connectivity to the regulators' designated swap data repositories (SDRs) providing real-time, primary economic term (PET), confirmation, snapshot, and valuation reports across all five major asset classes as defined by the regulatory bodies.

Beyond providing effective recordkeeping and reporting functions, Genpact's TSR Solution also helps clients optimize their derivatives business through the use of monitoring, reconciliation, and performance analytics services.  By combining these features with the recordkeeping and reporting requirements on one proprietary user interface, this technology platform sets a new industry standard and provides a global view of all derivatives activity within the firm and in the overall market.  Genpact also plans that the core platform will enable clients in Europe to meet the regulations slated to be finalized there.

"Genpact's complete TSR Solution provides a single, globally consistent source of data that incorporates cost efficient records management with an in-depth reporting structure that can effectively meet all new reporting requirements across geographies within the required regulatory deadlines," said Sandeep Sahai, senior vice president, IT Solutions and Capital Markets, Genpact.  "We look forward to helping many capital markets clients ensure timely regulatory compliance along with business process effectiveness and analytical insights, which software alone cannot provide."

About Genpact

Genpact Limited (NYSE: G), a global leader in business process and technology management services, leverages the power of smarter processes, smarter analytics and smarter technology to help its clients drive intelligence across their enterprise.  Genpact's Smart Enterprise Processes (SEP(SM)) framework, its unique science of process combined with deep domain expertise in multiple industry verticals, leads to superior business outcomes. Genpact's Smart Decision Services deliver valuable business insights to its clients through targeted analytics, reengineering expertise, and advanced risk management. Making technology more intelligent by embedding it with process and data insights, Genpact also offers a wide range of technology services.  Driven by a passion for process innovation and operational excellence built on its Lean and Six Sigma DNA and the legacy of serving GE for more than 15 years, the company's 56,000+ professionals around the globe deliver services to its more than 600 clients from a network of 64 delivery centers across 17 countries supporting more than 30 languages. For more information, visit www.genpact.com. Follow Genpact on Twitter, Facebook and LinkedIn. 

SOURCE Genpact Limited