Emir & Dodd-Frank. Varrlyn is responsible for the functional design, build, test and deployment of the Central Clearing set up for IRS and CDS trades through the full chain of systems and processes. This is required to comply with EMIR and Dodd-Frank regulatory requirements. Besides the Central Clearing set-up also Repository Reporting was implemented for all asset classes required for EMIR. Varrlyn has been involved from beginning till end and made sure all the required deadlines were met.
Components of this project included:
- Processes and technical set-up for Central Clearing.
- Set up for different clearing houses and clearing members.
- Implement Central Clearing fee structure.
- Set up required static data to comply with EMIR (UTI,CICI,LEI,SSI’s etc.).
- Design, build and test of the repository reports.
- Processes and controls for repository reporting