EMIR (European Market Infrastructure Regulation):
Schaeffler Group Starts Reporting on Time and in a Fully Automated Way
As one of the first companies, and just in time prior to the due date, the Schaeffler Group reports – all existing derivatives – fully system-supported via SAP to REGIS TR.
The platform used for this purpose has been created in collaboration with the Düsseldorf-based IT consulting firm COMPIRICUS.
Schaeffler’s corporate treasury had insisted on meeting the regulatory requirements without compromise. Regardless, it was a pleasant surprise for all project participants that an error-free, stable application including backloading was implemented in due time even prior to go-live (February 10, 2014).
In order to realize the goal within this short period of time, professional expertise with regards to the EMIR requirements was needed along with prior knowledge of the specific SAP solution for EMIR still in the process of maturing at that time.
SAP is offering EMIR a solution that can be implemented from EHP5 on as an integrated module in SAP TRM. The system produces a message in XML format with the complete required information. Responses from trade repositories can be imported. A monitor is available for the user to track the status of a message. The StepStream adapter is used for transporting messages via middleware.
Consequently, now the Schaeffler Group on the one hand has a professional EMIR solution, while on the other hand Schaeffler is one of the few companies no longer reporting manually, but in a fully system-supported way. This guarantees messages with high-quality content.