Business Fortune
Transparency is a key component of the reporting standards that financial organizations follow, and they have made great progress toward transcendence throughout time. They have to be aware of how important it is to submit trade and transaction information. The amount of client information needed and the deadlines for submitting it vary greatly throughout reporting methods. This encourages businesses offering T&TR services to keep raising the caliber of their offerings.
Point Nine consistently meets the needs of the industry by providing completely automated, tailored solutions. Cloud-based and cross-asset covered, its solutions include features like email notifications, a validation engine, system and platform agnostic capacity, comprehensive UTI administration, error handling, a client portal, and data analysis and mapping.
Point Nine is a group of professionals that leads the industry in trade processing and reporting. It was created in 2002 and is headquartered in Limassol, Cyprus.
The CEO of Point Nine, Andreas Roussos, exclusively discussed the company's goals to lead from the front and how it is transforming the industry with Business Fortune. Here's an excerpt from it.
Head to Head with Andreas Roussos, CEO of Point Nine
Could you tell us more about the proprietary technology platform that you have in-house? And how does it help satisfy your customers’ regulatory reporting requirements?
Utilizing our state-of-the-art, in-house, proprietary technology, we offer every customer the best possible solution for their regulatory reporting needs. With a track record of 99.95% successful submissions in EU/UK transaction reporting, Point Nine has processed and reported over seven billion transactions across all asset classes since October 2015.
Which sectors do your consumers belong to? Could you share with us one or two success stories that illustrate the difficulties your clients encountered and how your solutions enabled them to go past those difficulties?
We assist corporations, buy-side and sell-side financial organizations, and service providers with all of their regulatory reporting needs. Among others, we support banks, corporations, systematic internalizes, fund managers, fund administrators, and prime brokers.
In one instance, a client required a full-service solution to manage their EMIR reporting (more than 210 million trades in the previous year). Products used were from the ETD category, which is Equity Options, Equity Futures, FX Options, and FX Futures. The internal OMS and counterparties served as the data sources. Five clearing members from Brazil, India, and South Korea made up the counterparties. Point Nine's capacity to process data from all counterparties, report within the T+1 time frame, and execute data mapping was a key component of our solution. The compliance team of our client placed great importance on validating and enriching the data, which led to our team resolving errors and producing personalized reports for the client's compliance team.
Which areas are you concentrating on?
Customer service is critical to the expansion of any organization. With the help of our in-house, proprietary technology, the Point Nine team offers each and every client best-in-class solutions. We're pleased with the way we handle onboarding. We lead each client through our well-organized and effective onboarding process as soon as we partner. As a result, the support staff can make sure that each customer is prepared for success.
We report in real time. Clients that use Point Nine get an email with an end-of-day report. Customers not only benefit from transparency, but they also have total control over what is reported. The Point Nine team receives deals for submission, and about 15% of them have errors. As a result, Point Nine generates and distributes an end-of-year report that displays the quantity of errors for clients. Then, our group collaborates with them to enhance their data.
We also implement a policy for dedicated help. Every client's needs are respected by our support staff. Our internal "support policy" is quite tight and mandates that any concerns be resolved by our support team in less than 24 hours. Our main goal is to guarantee accuracy and timeliness in reporting while minimizing related risks and expenses.
In addition, our clients have round-the-clock access to the Point Nine site, where they can examine and export files, reports, and data that have been filed on their behalf for their trade repositories and/or authorized reporting systems.
What plans do you have in place to support innovation in your business?
Our innovation approach assists the firm in overcoming its growth obstacles through the creation of new goods, services, and business models, as well as the creation of repeatable innovation processes and an entrepreneurial culture.
We use events and procedures as part of our innovation strategy to collect ideas. To generate ideas, we have installed suggestion boxes in the office and occasionally arrange company away days or regular workshops. People can freely share their opinions without fear of rebuke in this encouraging environment. We promote risk-taking and experimenting, and we value the effort put out, even in the event of a partial failure.
We encourage candor among individuals and groups. Good ideas and information are disseminated, and newsletters that facilitate information sharing and promote creativity are also in place. Having said that, everyone feels invested in moving the company forward because innovation is a shared duty among all levels of employees. Our organization avoids having several levels of administration or decision-making, which gives workers a sense that their opinions are valued. Incentives are in place to encourage personnel to think creatively, and we recognize achievement and reward innovation.
In the process of hiring new staff, we look for imagination and creativity. We've also noticed that Point Nine is better able to retain its most talented workers when they adopt an innovative working style.
Without a doubt, in this chapter, Point Nine is breaking new ground. Considering how often things change, what transformational strategies are you working on to stay relevant both today and in the future?
As mentioned above, Point Nine works with companies, buy-side and sell-side financial institutions, and service providers to help them maintain accurate and high-quality reporting in order to stay in compliance with Canada, ASIC, EMIR, MiFIR, and SFTR. Transformation is about the need to create new value, open up new opportunities, and spur new development in a world of unparalleled change. In this approach, Point Nine consistently adopts new technology, forges new alliances to investigate untapped markets, and puts into practice fresh ideas generated from internal processes. In order to concentrate on offering trade/transaction reporting services to legal entities worldwide, Point Nine Data Trust recently split out from Point Nine Limited to become a full-fledged regulatory reporting company. We transcend. We honor inventiveness. We cause a disturbance.
Do you have any other points you would like us to emphasize that we may have overlooked?
We are thrilled to have been chosen to work with a well-known company to power trade and transaction reporting. FIS® (Jacksonville, Florida) chose Point Nine to work with them in a synergistic alliance to extend Point Nine's service and expertise to their esteemed customers in a seamless manner that guarantees accuracy, efficiency, and transparency.
We have collaborated with the RegTech business B.fine Belgium to advance our goal of industrializing financial institutions' regulatory reporting procedures. Crucially, we anticipate growing and enhancing these alliances in order to accomplish shared objectives.
Andreas Roussos, CEO
Andreas Roussos is a dynamic executive with experience in finance, business, and operations. He has led successful teams in a variety of organizations, including those with highly regulated functional platforms. He is dedicated to excellence and consistently surpasses goals, promoting the best use of available resources and skill sets. He is skilled at managing ongoing improvements in high-pressure settings and developing solid solutions. He is driving revenues and elevating organizational recognition to industry leadership thanks to his skill in establishing and maintaining fruitful relationships with clients and all levels of stakeholders.
