Droit, a computational law and regulation tech firm, is to partner with Finbourne Technology to launch an end-to-end position reporting solution.
The firms will deliver a full-stack solution enabling sell- and buy-side institutions to manage disclosure obligations for long, short and takeover panel reporting. The offering leverages Finbourne’s financial data management platform LUSID, embedded with Droit’s Position Reporting product which delivers clear determination of reporting obligations based on consensus interpretations of requirements from Endoxa, a consortium of six global financial institutions.
Droit CEO Brock Arnason said: “By partnering with Finbourne, we are able to leverage consensus interpretation and industry best practice for position reporting for all market participants. The asset management industry can directly benefit from the experience of their sell-side counterparties. Finbourne’s platform, built specifically to support the volume and complexity of data that characterises position reporting, integrated with our consensus-driven eligibility rules, offers firms unrivalled traceability, transparency and auditability.”
Finbourne CEO Thomas McHugh said: “Integrating Droit into LUSID means that together we are able to deliver a complete solution for position reporting. This partnership enhances our ability to safeguard asset managers by making sense of shareholder disclosure data when it comes to complex trading books and provide a level of granular reporting detail that is unmatched in the industry.”
Droit’s technology will translate and process guidelines from all major global jurisdictions, automating the decision-making process for shareholder disclosure reporting eligibility. For complete accountability, a traceable audit record is generated for each evaluated position.
Finbourne’s data transformation capabilities map the multiple data inputs needed to evaluate rules and simplify workflow interactions, helping mitigate operational, cost and complexity challenges.
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