Pioneering ETD Reporting product to enhance regulatory transparency for listed derivatives

NEW YORK, Nov. 18, 2024 /PRNewswire/ — Droit, a leading technology firm in computational law and regulation, today announces the launch of its Exchange Traded Derivatives (ETD) Reporting product—designed to enhance regulatory transparency and ensure compliance with global reporting requirements for listed derivatives.

Recent scrutiny of position-based reporting obligations to clearing agencies and exchanges has increased pressure on clearing firms to upgrade their reporting infrastructure. Both internal and external audits are pushing clearing firms to adopt stricter controls, ensuring completeness and accuracy akin to OTC transaction reporting standards.

ETD Reporting from Droit provides precise identification and management of reporting obligations for seamless quality assurance of reports pre- or post-submission. Initially focusing on high-risk clearing, collateral, and margin reports, the ETD Reporting product is set to expand beyond futures and options to support a broader range of listed instruments.

With regulators stepping up enforcement and issuing fines for misreporting, clearing firms face the dual challenges of handling vast volumes of trade and position data daily while navigating complex, diverse global regulatory requirements. Senior executives are also pressured to ensure a cohesive quality assurance process exists across their enterprise. Yet, many clearing brokers still rely on outdated, opaque systems that lack transparency and auditability.

Droit’s ETD Reporting delivers a comprehensive quality assurance platform to provide a consistent approach to regulatory compliance. With complete insight into each decision made and the ability to trace the logic through to the underlying source text, the product ensures clarity and accuracy in complex regulatory interpretations.

“Our new ETD Reporting product establishes a unified quality assurance process across Exchange Traded Derivative reports,” said Blythe Barber, Head of Business Development, Americas of Droit. “By using Droit for completeness and accuracy checks, clearing firms can adopt a single global process, significantly reducing the operational burden of current manual methods. Front and middle office teams can fully focus on client opportunities, confident that reporting obligations have been fulfilled.”

“ETD Reporting marks a key step in our strategy to expand our regulatory reporting products to listed derivatives,” said Brock Arnason, Founder and Chief Executive Officer of Droit. “Our clients have many regulatory reporting obligations across departments within their firms. By adding ETD Reporting to our product suite, we aim to provide one platform to advance global compliance and real-time controls, helping our clients navigate these challenges with confidence.”

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.

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

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• First successful delivery of quantum tokens using commercial QKD hardware, demonstrating fast transaction verification at the point of exchange – a crucial step toward quantum-enhanced financial security and a major advance for QKD.
• Quantum tokens are designed to provide unforgeability, privacy, and fast settlement, in a single financial instrument. No previous technology can deliver these three combined benefits.
• In the world’s first implementation using off-the-shelf hardware, quantum tokens were transmitted across 10km of fibre in Tokyo, using commercial quantum key distribution (QKD) devices provided by NEC*.
• This is a pivotal step towards the deployment of ultra-high-security quantum tokens in use cases such as tokenized asset security and high-speed trading.

TOKYO and BROOMFIELD, Colo., Nov. 18, 2024 /PRNewswire/ — In a long anticipated trial, Quantinuum (“Quantinuum”, Head Office: Broomfield, Colorado, U.S.A., CEO: Rajeeb Hazra), together with Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo, President and CEO: Kenichi Hori) and NEC (“NEC”, Head Office: Tokyo, President and CEO: Takayuki Morita) today announced the successful delivery of quantum tokens across a 10km fibre-optic network in Japan. This is the first time such a delivery has been accomplished.

Quantum tokens are a new financial instrument that take advantage of the properties of quantum physics to meet the robust demands of asset trading without the communication overheads required by traditional financial systems. Quantum tokens are transmitted across fibre-optic quantum key distribution (QKD) networks, which are rapidly expanding around the globe. Today’s announcement with Mitsui demonstrates growing industry recognition of quantum tokens’ potential in financial services.

Ilyas Khan, Founder and Chief Product Officer at Quantinuum, said: “The original motivation for quantum communications was the exchange of money, as envisaged by Stephen Wiesner. Today, we have demonstrated real-world security enhancements for financial systems using off-the-shelf quantum communications hardware. This opens the door to a new era in quantum-enhanced security with wide applicability, providing commercial organisations with something concrete to utilise.”

Koji Naniwada, Deputy General Manager, Quantum Innovation Dept. at Mitsui, said: “Quantum tokens will increase the security of digital assets, while improving transaction performance and maintaining privacy. These topics are critical for our customers and partners in the financial sector and this demonstration is a valuable outcome of our partnership with Quantinuum.”

Naoki Ishida, Director with the Trading and Service Solution Department at NEC, said: “We are the first to provide a platform for realizing a quantum token system using NEC’s quantum key distribution (QKD) devices. Based on the results of this trial between Mitsui & Co. and Quantinuum, we will continue to work towards the social implementation of quantum cryptography technology.”

Quantum tokens are designed to use quantum physics to prevent forgery, while ensuring transactions can be settled near-instantly, whereas traditional payments systems rely on double-entry bookkeeping to prevent double-spending of funds. This adds time, overhead and risk to every transaction, as digital systems are consulted to confirm funds are available and to settle transactions.

Quantum tokens instead rely on the no-cloning theorem of quantum physics to prevent forgeries and double-spending. Only the intended recipient will receive the correct token data, which can only be spent at one location in the future. This enables near-instant transaction settlement by removing the need to check multiple systems or wait for network confirmations.

As demonstrated in Quantinuum’s recent work with HSBC, securing digital assets in the quantum-age is growing in urgency. The financial sector is increasingly looking to quantum technology to solve these complex problems with the power of nature.

Note:

(*) The equipment provided by NEC was partially supported by results from Japan’s Ministry of Internal Affairs and Communications’ (MIC)  “Research and development for construction of a global quantum cryptography network”(JPJ008957) under “R&D of ICT Priority Technology Project” (JPMI00316) and Japan’s Cabinet Office’s “Photonics and Quantum Technology for Society 5.0” project under the Cross-ministerial Strategic Innovation Promotion Program (SIP).

Mitsui & Co. is a global trading and investment company with a presence in more than 60 countries and a diverse business portfolio covering a wide range of industries.

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The company identifies, develops, and grows its businesses in partnership with a global network of trusted partners including world leading companies, combining its geographic and cross-industry strengths to create long-term sustainable value for its stakeholders.

Mitsui has set three key strategic initiatives for its current Medium-term Management Plan: supporting industries to grow and evolve with stable supplies of resources and materials, and providing infrastructure; promoting a global transition to low-carbon and renewable energy; and empowering people to lead healthy lives through the delivery of quality healthcare and access to good nutrition.

Visit https://www.mitsui.com/jp/en/index.html for more information.

Quantinuum, the world’s largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. Quantinuum’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, Quantinuum leads the quantum computing revolution across continents.  http://www.quantinuum.com/

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at http://www.nec.com. 

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DUBLIN, Nov. 18, 2024 /PRNewswire/ — Strategic Value Partners, LLC and its affiliates (together, “SVP”), a global alternative investment firm with approximately $19 billion of assets under management, today announced that SVP-managed funds have agreed to acquire Blanchardstown Centre, a prime retail and leisure destination in Ireland.

Blanchardstown Centre is a major retail complex in north-west Dublin, covering 1.2 million square feet and housing over 180 shops and restaurants. With an annual footfall of approximately 17 million visitors and 5,500 parking spaces, it is one of Ireland’s leading shopping destinations. Strategically connected to Ireland’s major motorways, Blanchardstown Centre is well-positioned to continue serving as a premier retail hub for Dublin and beyond.

SVP plans to make significant investments in Blanchardstown Centre, including enhancements to its food and beverage offerings. SVP will work closely with Fingal County Council, existing tenants, and Falcon Asset Management to elevate the centre’s appeal and strengthen its position as a premier retail destination for visitors and tenants alike.

“As a centrepiece in Dublin’s retail sector, we’re excited by the opportunities Blanchardstown Centre presents” said Mike Ungari, Global Head of Real Estate at SVP. “Our goal is to build on the facility’s strengths, and we are committed to ensuring Blanchardstown continues to set the benchmark for retail and leisure excellence in the region.”

With an extensive real estate portfolio built over the past two decades across U.S. and European markets, supported by a dedicated team of 10 professionals, SVP has established itself as a seasoned real estate investor with deep expertise in retail assets and shopping centres. In 2021, SVP funds led the restructuring and subsequent acquisition of Washington Prime Group, a U.S. REIT with a portfolio of approximately 90 retail properties. In 2023, SVP became the largest investor in Intu SGS, a portfolio of four large UK shopping centres, and played a leading role in its restructuring earlier this year. Led by Anders Hemmingsen, SVP’s London-based team is actively seeking to invest in European real estate, and believes it is well positioned to leverage the firm’s differentiated sourcing, investing and operating expertise in the sector this cycle.

The acquisition is expected to complete prior to year-end, subject to regulatory approvals.

For media enquiries:

Greenbrook – James Madsen / Ksenia Galouchko
[email protected]

About SVP

SVP is a global alternative investment firm that focuses on special situations, private equity, opportunistic credit and financing opportunities. The firm uses a combination of sourcing, financial and operational expertise to unlock value in its portfolio companies. Today SVP manages approximately $19 billion in assets under management, and since inception, has invested more than $48 billion of capital, including more than $18 billion in Europe. The firm, established by Victor Khosla in 2001, has over 200 employees, including more than 100 investment professionals, across its main offices in Greenwich (CT) and London, and a presence in Tokyo. Learn more at www.svpglobal.com.

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