KOR, a trade data processing and management platform for derivatives markets, has been registered by the primary US derivatives regulator, Commodity Futures Trading Commission (CFTC).
Now approved as a licenced regulatory Swap Data Repository (SDR) for all asset classes and client segments, KOR claims it is the first approval granted by the CFTC since 2014 and the first cloud-native SDR.
The KOR SDR and complementary reporting services are live for testing and go into production in summer 2022. Participants will benefit from sub-second actionable analytics on submitted data, on-demand reports of full history, and insights to improve compliance processes and drive operational efficiencies.
The platform is currently applying for a US Securities and Exchange Commission Securities-based SDR licence, with immediate plans for licences in Canada, Singapore, Australia, the UK and the EU in advance of pending regulatory changes.
Jonathan Thursby, CEO and founder of KOR comments: "Regulatory reporting has been ripe for innovation for years. Participants have been limited to under-designed yet expensive systems providing the bare minimum to meet compliance requirements.
“We have created an alternative that takes a decade of global learning and bold technology designs to completely redefine every aspect of regulatory trade reporting. This way our clients can focus more on their core business with confidence."
