Si OMIF

Si OMIF is the solution implemented by SiGrade to comply with the provisions of the EMIR regulation.

Si OMIF is a modular solution, designed to stay aligned with possible evolutions of provisions of EMIR regulation

Specific modules deal with the appropriate EMIR topics:

 Trade Reporting
 Bilateral Trade
 Clearing

Main Features

• Multi-company: possibility to operate as a single company or to operate as a member of a group (member or parent company).
• Inquiry of events of selected trades (reported trades, modification, trade termination, valuation update). This function is available for simple and structured trades.
• Capture of relevant events according to regulation
• Reconstruction of relevant events starting from fundamental data (alternative to the previous point)
• Trade Repository reporting can be performed on behalf of clients’ customers, too.
• Messages can be formatted according to ESMA standard
• Possibility to connect multiple Trade Repository
• Automatic routing of contracts to Trade Repository in accordance with the rules stated by the client (by product, market, counterparty, etc.)
• Sending and receiving messages to / from the various Trade Repository
• History archive to store compliance data, to verify inbound and outbound messages for reconciliation matters
• Logging of communication and user activity
• Diagnostic and monitoring tools to analyse data and status of messages

 Advantages

• The solution is an application layer that wraps and integrates the traditional functions of any OTC derivatives back office procedure
• The solution is independent from the back office derivative processing module to which it is connected
• The solution is natively integrated with the SiGrade procedures for OTC Derivatives
• New EMIR services are implemented by extension of the application layer