Droit and FINBOURNE Partner to Deliver End-to-End Position Reporting Solution

LONDON, April 30, 2024 /PRNewswire/ -- Droit, a technology firm at the forefront of computational law and regulation, will partner with FINBOURNE Technology, a provider of cloud-based investment data management software, to launch an end-to-end position reporting solution for increased regulatory transparency.

Over one hundred global jurisdictions have position reporting obligations, requiring market participants to report equity and equity derivatives holdings to regulatory bodies; a process that is complex, time consuming and costly.

Droit and FINBOURNE come together to deliver a joint, full-stack solution to enable sell-side and buy-side institutions to manage disclosure obligations for long, short and takeover panel reporting. This new 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. 

The unified approach ensures consistency around complex regulatory interpretations, regulatory clarity and accuracy of reporting. As part of the joint solution, Droit translates and processes detailed 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.

With FINBOURNE's advanced data transformation capabilities, the new end-to-end solution seamlessly maps the multiple data inputs needed to evaluate rules. Moreover, it simplifies workflow interactions via an intuitive interface, effectively mitigating operational, cost, and complexity challenges.

"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." added Thomas McHugh, CEO and Co-founder, FINBOURNE Technology.

"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." said Brock Arnason, Founder and Chief Executive Officer of Droit. "FINBOURNE's platform, built specifically to support the volume and complexity of data that characterizes position reporting, integrated with our consensus-driven eligibility rules, offers firms unrivaled traceability, transparency, and auditability."

About Droit

Droit is a technology firm at the forefront of computational law and regulation within finance and other domains. Founded in 2012, Droit counts many of the largest financial institutions as its clients. Its award-winning, patented platform Adept provides an implementation of regulatory rules reflecting industry consensus. The Adept platform processes tens of millions of inquiries a day, deciding in real-time which interactions are legally permissible across the globe. Adept is used by institutions to evaluate, with sub-millisecond latency, the full regulatory implications of any given interaction within their transactional infrastructure.

For more information visit droit.tech. To obtain more information about Droit's products, please contact [email protected].

About FINBOURNE Technology 

FINBOURNE combines extensive technical expertise in financial services data management with a best-in-class, open, cloud–based investment management and servicing product ecosystem. By deploying our solutions, our clients can better aggregate, manage and utilise data across their organisations.

With operations across North America, Europe, Asia and Australia, FINBOURNE's data management solutions help financial services firms improve their investment management and servicing capabilities.

FINBOURNE is trusted by some of the world's leading financial services firms, including Fidelity International, London Stock Exchange Group, Baillie Gifford and Northern Trust. 

For more information on FINBOURNE Technology visit www.FINBOURNE.com or contact [email protected] 

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SOURCE Droit