Build greater compliance, liquidity, profitability, and customer trust.
Here’s why meshIQ is a fundamental necessity for improving financial operations and modernization.
The reliable, structured, auditable exchange of data can make or break banks. Without it, financial institutions lose hundreds of millions of dollars to fines for reporting errors, delays, incomplete data, misreported cash, and more. meshIQ is the single platform solution to resolve data exchange gaps and errors while protecting the most essential element of banking, public trust.
meshIQ helps financial institutions modernize and attain:
- Faster, error-free payments and settlements
- Accurate liquidity forecasting and balance sheets
- Reduced compliance costs and false positives
- Higher operational efficiency and profitability
- Accelerated modernization with lower transformation risk
- Reinforced customer and regulatory trust
The meshIQ platform is purpose-built for highly regulated businesses that demand compliance.
meshIQ provides banks and financial institutions with real-time visibility into the lifecycle of trade events and the ability to monitor regulatory responsibilities for trade reporting.
How does meshIQ secure compliance with regulations?
The problem.
- ACH Transaction Tracking
- SWIFT Transaction Tracking
- Dodd-Frank and MIFID-II Submissions
The solution.
The meshIQ platform can automatically capture trade events and, via its unique stitching, correlate them together even when responses such as those from global trade repositories are asynchronous. It can leverage information in the message payload, such as actual execution time, as the trigger for an SLA alert.
Trace and track transactions with unrivaled visibility.
Transaction stitching.
The best way to monitor compliance with the regulatory reporting requirements is to provide a graphical tool that alerts a user to a potential or actual breach in responsibilities in real-time.
Automated stitching across the entire lifecycle of a reportable trade event, represented graphically as a series of milestones. The user can see in real-time the progress it is making until completion.
Execution time tracking.
Defined as when the primary economic terms are exchanged by both counterparties. In order to monitor compliance with trade reporting SLA’s, it is necessary to inspect the contents of the trade message rather than just the time stamp when it was generated.
Retrieves message content and extracts the actual Execution Time as the trigger for the SLA timer. This information is used in conjunction with milestone events gathered as the trade moves through the enterprise.
NACK management.
All trade lifecycle events must be reported to the GTR and positively acknowledged. Any parsing or validation errors associated with the transaction will be reported back to the SD as a NACK message. Monitoring systems must be able to manage the workflow associated with the NACK messages and ensure that reason codes are reported back to trade support for resolution. It is also important that Compliance can easily identify trade reports that did not conclude with a valid ACK message.
Part 43 real-time reporting.
States specific requirements for the management of timestamps by swap dealers and major swap participants. These include recording the time to the nearest second when data is transmitted to a registered swap data repository for public dissemination.
Monitor mandatory data.
Even when a third-party entity is used to report a transaction, the swap dealer remains fully responsible for adhering to the regulation, and it is therefore vital that Compliance departments can view and monitor transactions and validate key elements such as reporting party determination/override or the presence of key fields such as Unique Swap Identifier (USI).
Reporting window.
CFTC has defined a number of specific “Reporting Windows” for counterparties to adhere to, depending on the swap characteristics and type of trade report. These windows are also scheduled to change one year after compliance.
Reconciliation.
It is essential that any compliance department can reconcile its reporting activities at the end of the day against the daily reports generated by the GTR.
Automated, secure, and private Messaging middleware management.
The meshIQ platform delivers a single pane of glass (SPOG) approach to Middleware Management. The messaging middleware administration team is able to create secure and private access for each developer to just their own queues and messages. This allows organizations with hundreds (or thousands) of developers to dramatically increase the speed of delivery of updates and new applications, while maintaining full compliance with governance and regulations and ensuring quality of service is maintained. Many of the world’s largest fintech organizations rely on the meshIQ platform today.
There are no limitations on the platform; meshIQ supports on-premises, mainframe, and all cloud architectures.
- Support for IBM MQ, IBM IIB, Apache Kafka®, Tibco EMS, and more.
- Federated security and privacy.
- Automated scheduling and roll-back.
- Cross-queue and Cross-queue-manager support.
ACH, SWIFT, Dodd-Frank, MIFID-II.
Meet the reporting requirement outlined in the regulations
The meshIQ platform is being used in production today by major financial institutions to deliver the reports required by the various global regulatory bodies on financial trades. And to track the submissions of these reports and to project manage any unacknowledged or declined submissions.
