Bloomberg today announced that it has acquired RegTek.Solutions, a provider of global regulatory reporting software solutions. The acquisition will expand the range of regulatory reporting services offered by Bloomberg, the firm says, and deliver a fully integrated and comprehensive service that supports compliance with current and upcoming regulatory reporting requirements across multiple jurisdictions around the world.
RegTek.Solutions, which provides modular software solutions built around actionable regulatory intelligence, will be integrated with Bloomberg’s Regulatory Reporting Hub (RHUB), as well as Bloomberg’s enterprise data management and trading systems.
Clients will have access to a fully electronic reporting workflow including transaction reporting eligibility, data validation, enrichment and reconciliation, to help them maximise accuracy and completeness in their reporting obligations, the firms state.
“The combination of RegTek.Solutions with Bloomberg RHUB allows us to substantially expand our regulatory reporting coverage, and offer quality and control tools to help our clients effectively meet the wide range of global reporting requirements,” says Alejandro Perez, global head of post-trade solutions at Bloomberg. “As regulations become more complex, buy- and sell-side firms are looking for providers who can help them address requirements across various jurisdictions, with the necessary workflows and data structure that allows firms to maximise overall accuracy and completeness in their regulatory processes.”
Brian Lynch at RegTek.Solutions adds, “Combining our solutions with the strength and scale of Bloomberg’s RHUB services, as well as access to their market data, enterprise data management, analytics and enrichment capabilities will allow us to offer the cross jurisdictional, cross asset solutions that our clients demand. We can now continue to deliver sustainable compliance at a scale that will have a fundamental market impact.”