CSL Corporate Services enhances its product offering for asset managers with a fully automated MiFIR reporting service

CSL helps asset managers in Lichtenstein to comply with transaction-based reporting obligations by implementing Regnology Transaction Reporting.

The challenge

Since 2018, the Markets in Financial Instruments Regulation (MiFIR) has required European investment firms and trading venue operators to report daily all changes to their or their customers’ positions in certain financial instruments to the Liechtenstein Financial Market Authority. To support their clients in fulfilling the new reporting obligations, CSL was looking for a suitable solution provider that already had professional expertise and functional knowledge in the area of transaction-based reporting.

The Solution

CSL selected BearingPoint RegTech’s Abacus Transactions for a full-service MiFIR transaction reporting solution. The application fits very well into CSL's existing IT platform for asset managers and is offered as Regulatory-as-a-service (RaaS), i.e. BearingPoint RegTech hosts the software, manages all tasks and processes of the technical operation and provides infrastructure services, application management and support.

The Benefits

The use of the platform offers major advantages to CSL and their customers. CSL's customers benefit from a comprehensive, cost-efficient ecosystem enabling them to submit their MiFIR reports accurately and on time. In turn, CSL was able to generate a new revenue stream and address new market segments. The enhanced service offering also improved customer satisfaction.