NEX enlists Duco for MiFID II reconciliations requirements
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NEX enlists Duco for MiFID II reconciliations requirements 08 June 2017London Reporter: Drew Nicol
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NEX Regulatory Reporting is partnering with Duco, a data normalisation and reconciliation service provider, to aid its clients in compliance with the second Markets in Financial Instruments Directive (MiFID II).
The joint offering will use Duco’s reconciliation platform Duco Cube to provide MiFID II-compliant reconciliation, validation and reporting services to NEX Regulatory Reporting clients, ahead of the directive’s implementation in January 2018.
Clients will also have access to Duco Cube for more complex requirements, such as clean-up activities or additional internal controls related to MiFID II.
Collin Coleman, CEO of NEX Regulatory Reporting, said: “What sets us apart in the market is our understanding of both regulation and technology and our strong focus on the end-to-end experience. By working with Duco, we will be able to scale fast and provide our rapidly-growing client base with strong independent verification based on best-of-breed technology.”
Christian Nentwich, CEO of Duco, added: “Duco Cube is particularly suited to the high volume, high complexity requirements imposed by MiFID II.”
“Many of our clients rely on Duco Cube for regulatory reporting reconciliations under the European Market Infrastructure Regulation and MiFID today, and we are pleased to bring this technology to a wider audience in partnership with NEX Regulatory Reporting.”
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