ISDA Digital Regulatory Reporting Solution Integrated into LSEG TradeAgent
Summary
ISDA announced that LSEG has integrated ISDA's Digital Regulatory Reporting (DRR) solution into its TradeAgent platform. This integration aims to provide a unified, machine-readable interpretation of global derivatives reporting rules, enhancing accuracy and automation.
What changed
ISDA has announced the integration of its Digital Regulatory Reporting (DRR) solution into LSEG's TradeAgent platform. The DRR translates industry interpretations of reporting requirements into machine-readable code, and its incorporation into TradeAgent, a post-trade processing platform, signifies a step towards standardized and automated regulatory reporting for over-the-counter derivatives.
This integration is expected to provide market participants with greater certainty and consistency in interpreting and complying with various global reporting rules. While this is a notice of integration and not a new regulatory mandate, firms utilizing TradeAgent or similar platforms may benefit from improved accuracy and reduced operational complexity in their regulatory reporting processes. No specific compliance deadlines or penalties are mentioned, as this is an industry initiative to enhance existing reporting frameworks.
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LSEG’s TradeAgent Integrates ISDA’s Digital Regulatory Reporting Solution
ISDA has announced that LSEG has integrated ISDA’s Digital Regulatory Reporting (DRR) solution into its Post Trade Solutions business, TradeAgent, representing a significant milestone in the industry deployment of the ISDA DRR.
The ISDA DRR converts an industry-agreed interpretation of reporting requirements into unambiguous, machine-readable code and has so far been applied to eight sets of reporting rules around the world. By integrating it within TradeAgent, the new market utility will have the certainty of a unified, mutualized industry interpretation of reporting rules.
TradeAgent is a centralized over-the-counter derivatives post-trade processing platform designed to eliminate inefficiencies and streamline workflows through three services: trade confirmation and routing; a central authoritative data store; and calculation and settlement of bilateral cashflows. Like the ISDA DRR, TradeAgent is built on the Common Domain Model (CDM), an open‑source data standard for financial products, trades and lifecycle events, which provides the vital foundation to standardize and automate industry processes.
“Integration of the ISDA DRR within the TradeAgent platform is an important step forward in the broad adoption of the CDM and ISDA DRR. By embedding the CDM and the DRR into post-trade platforms as LSEG has done, industry service providers can achieve greater standardization and automation, improve the accuracy and consistency of regulatory reporting and reduce operational complexity across the trade lifecycle,” said Scott O’Malia, ISDA’s Chief Executive.
“Integrating ISDA’s Digital Regulatory Reporting solution into TradeAgent is a significant step in delivering greater consistency, accuracy and confidence in regulatory reporting for our customers,” said Annabel Harrison, Head of Agent Services, Post Trade Solutions, LSEG. “By combining the DRR with TradeAgent’s CDM‑based post‑trade processing platform, we are helping firms reduce operational complexity, achieve a single, reliable interpretation of reporting rules and advance the industry’s move towards more standardized, automated post‑trade processes.”
“It is very exciting to see LSEG’s TradeAgent leveraging the CDM, reflecting years of industry collaboration to create a shared standard ready for production deployment. The CDM’s flexible, composable representation of trades supports a growing range of use cases. As adoption expands across banks, fintechs and market infrastructure providers, the transformative value of this shared data model will only continue to grow,” said Jane Gavronsky, Chief Operating Officer of the Fintech Open Source Foundation (FINOS), which provides the open-source governance framework for the CDM.
For more information on the ISDA DRR and the CDM, visit the ISDA Solutions InfoHub.
For Press Queries, Please Contact:
Nick Sawyer, ISDA London, +44 20 3808 9740, nsawyer@isda.org
Joel Clark, ISDA London, +44 20 3808 9760, jclark@isda.org
Christopher Faimali, ISDA London, +44 20 3808 9736, cfaimali@isda.org
Michael Milner-Watt, ISDA London, +44 20 3808 9777, mmilner-watt@isda.org
Nikki Lu, ISDA Hong Kong, +852 2200 5901, nlu@isda.org
Tags:
Digital, Digital Regulatory Reporting (DRR), Regulatory, Reporting
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LSEG's TradeAgent Integrates ISDA DRR
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