Derivatives brokerage GFI Group has selected Lombard Risk REPORTER for EBA Common Reporting for its operations in the U.K. and for those of its subsidiary Kyte Group, which offers algorithmic trading and clearinghouse services.
REPORTER will allow GFI Group to compile regulatory returns in the XBRL format reporting required by regulators.
“We were pleased to help GFI streamline their current spreadsheet-based report submission process and provide them with an XBRL upload to the regulator. In due course, as GFI’s requirements change, we will support them further as REPORTER has a range of deployment options to address a firm’s growth and the changing regulatory demands,” says Robert Markham, head of sales, regulatory compliance, EMEA, Lombard Risk.
“Following the EU directive requiring FCA regulated firms to submit their prudential returns in XBRL format, GFI Group has chosen to partner with Lombard Risk in meeting this new requirement. We reviewed a number of potential solutions for XBRL reporting and firmly believe that Lombard Risk’s REPORTER offering was best suited to our needs. Along with being a highly cost effective offering, we were particularly impressed with Lombard Risk’s knowledge and experience in this field, along with their commitment to providing a high quality and personalised support service,” says Darryl Denyssen, finance director for EMEA at GFI Group.
Lombard also recently released a cloud-based version of REPORTER for COREP / XBRL, specifically designed for smaller firms that are in-scope for COREP reporting but unsure which returns they will have to submit and short on resources to install software at the moment.
GFI Group Selects Lombard for Regulatory Reporting
Derivatives brokerage GFI Group has selected Lombard Risk REPORTER for EBA Common Reporting for its operations in the U.K. and for those of its subsidiary Kyte Group, which offers algorithmic trading and clearinghouse services.
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