EMIRate provides simple and cost efficient compliance with EMIR reporting requirements
Vienna, 11.06.2013. The treasury consultancy and IT solution specialist Treamo Just a few months before this obligation comes into effect, many corporates still don’t know what they will have to report and Major information vacuum In addition to its technical solution, Treamo is also launching an information campaign in order to ensure that EMIR not only receives the attention it warrants, but also that its far-reaching implications are understood in the period remaining until its implementation.
EMIRate-not ‘software’ in the classical sense, more auser-friendly’solution package’ Treamo already has experience in the area of offering software as a service, for example with TFM, an application for cash flow forecasting and treasury reporting. The reporting obligation associated with EMIR is effectively a classical case calling for a SaaS solution,” Sadleder claims. ‘Besides the facts that EMIR means not only additional unprofitable work for corporates but is also associated withcosts, companies need a solution which can reliably take over some of their work. EMIRate and its Trade repositories yet to be defined Treamo Business Consulting GmbH Contact
Business Consulting is developing a reporting platform for corporates affected by EMIR (European Market Infrastructure Regulation).
EMIR? Even several months after this EU-wide reporting obligation came into force, many players in the market are still unsure how EMIR will impact on them. EMIR will apply to all so-called financial counterparties (e.g. banks) and all corporates that hold even a single derivative-based instrument in their accounts and this regardless of whether this is contracted with an external or a group-internal counterparty. These derivative instruments must in future be reported to a central trade repository.
to whom.
According to Martin Sadleder, Managing Director of Treamo Business Consulting, there still exists a major information vacuum. This applies less to the ‘big players’, but EMIR is an issue which will surprise many small and medium-sized enterprises. He has an explanation for this: ‘EMIR and its impacts on corporates have been and continue to be downplayed and seldom mentioned in the communication of industry representative bodies and banks, which has led to EMIR obviously being underestimated. For a bank to say to a customer that it will take care of the issue falls short of reality.’
In the course of its development work on EMIRate, Treamo conducted indepth research and obtained results which were in part astonishing: ‘A
search for the term EMIR on the websites of banks
or system providers hardly generates any hits. Given the fact that EMIR will lead to far-reaching changes, we were very surprised.’ Communication, on the one hand, and EMIRate as a technical solution on the other With EMIRate, Treamo offers a solution which represents a comprehensive ‘care-free’ package forusers. Despite this, there is also still some communication work which needs to be done here. Sadleder: ‘Every Group internal derivative instrument needs to be reported, even if it is only a simple for-ward rate agreement. The banks can’t help here.
attractive pricing model, which is solely based on the scope of use, represent a solution which is currently unmatched in the market.’
Sadleder does not regard the fact that the ESMA (European Securities and Markets Authority) has as yet not defined the trade repositories as a
real issue. ‘This is just one of several somewhat strangeaspects associated with the launch of EMIR. Either way, it is not particularly relevant for EMIRate to whom these reports ultimately have to be sent from a technical perspective, this will only necessitate insignificant modifications if any.’
Treamo Business Consulting GmbH, founded in 2010 with registered offices in Vienna, is a globally active consultancy firm specialising in treasury management and the development of corresponding software tools. The company is wholly owned by its founder Martin Sadleder, who personally runs Treamo as its managing director. The consultancy services encompass all content-based aspects of modern treasury management from analysis
and the development of professional treasury management concepts, to consultancy support in the identification and implementation of optimisation projects in the areas of cash management, net working capital, cash flow forecasting, risk management and associated systems.
Treamo Business Consulting GmbH
Martin Sadleder
Managing Director
Tel.: +43 1 512 22 03
Mail: pr@treamo.com
www.treamo.com
www.emir-ate.com
www.banktory.com
www.tfm
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Pro ProComm e.U.
Progressive Communications
Gabriela Mair
Tel.: +43 676 908 35 71
Fax: +43 1 408 57 94 15
Mail: g.mair@procomm.b
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11 June 2013
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