Confluence Adds ESMA MMF Reports
A press release entitled, "Confluence Helps Industry to Prepare for More Complex ESMA Money Market Fund Reporting Ahead of Looming Deadline" tells us, "Confluence, a global leader in investment data management automation for regulatory, financial and investor reporting, is urging the fund management industry to prepare for the more complex disclosures required under the new European Securities and Markets Authority (ESMA) Money Market Fund Regulation (MMFR). Confluence's Unity NXT Regulatory Reporting Platform will have the capability to help firms to meet the impending deadline and reduce filing efforts. Beginning in Q1 2020, European MMFs -- investments regarded as being as safe as bank deposits while still giving a higher yield -- will be required by the European Securities and Markets Authority (ESMA) to provide more detailed information on performance, liquidity, stress test results and holdings level-data." The release explains, "Under Article 37 of the MMFR, an extension of UCITS and Annex IV AIFMD, large MMFs and their administrators are faced with the steep challenge of meeting these significant and complex disclosure requirements on a quarterly basis." Confluence President & COO Todd Moyer comments, "The powerful Unity NXT Regulatory Reporting Platform will help MMFs and administrators meet the short implementation timeframe and automate what could otherwise be a costly, error-prone manual preparation.... Importantly, Confluence's platform is also able to keep up with any further potential changes to the MMF regulation and will maintain common regulatory changes to existing forms to ensure data is reliably transformed into ESMA's structure."
