50 Innovators of the Year 2021
Nowadays, Regulators demand that financial firms, service providers, and corporations submit timely and accurate data to trade repositories, approved reporting mechanisms, and competent national authorities. This is the basis of Pont Nine, which is a company providing efficient and cost-effective solutions for transaction processing and reporting. Point Nine processes data from various sources, covers all asset classes, translates and submits the reports to trade repositories in the required formats, and also |handles acknowledgment messages. The Point Nine team understands the challenges and streamlines the process with their reliable and efficient end-to-end service and cutting-edge technology.
The company’s origin and its specialization
Point Nine is an industry leader in post-trade processing and regulatory reporting. Founded in 2002 as Point Nine Financial Technology, it works with both buy-side and sell-side firms to help them address the ever-expanding challenges of post-trade processing and regulatory reporting.
In 2019, Mitsubishi UFJ Trust and Banking Corporation acquired Point Nine to satisfy MUFG’s long-term goal of becoming a global leader and enhance the Trust Bank’s services and presence. Resulting from the acquisition, Point Nine Lts was spun off to Point Nine Data Trust, the end-to-end multi-regime reporting solution. Since then, Point Nine has offered technology and managed services to more than 140 customers globally, including hedge funds, asset managers, brokers, and banks.
The company spent a few years developing a state-of-the-art complete software solution, which concluded to shift the business model. Instead of licensing it to Investment Managers, it ended up using it in-house to offer the complete range of middle and back-office services to Investment Managers through the company’s owned experienced middle and back-office professional personnel.
The services were powered exclusively from Circle, which not only acted as the main central database and books and records for all the transactions and portfolio life-cycle
activity but also was interfaced with hundreds of other third-party service providers, such as Banks, Custodians, Brokers, Trade Repositories (“TRs”), Approved Reporting Mechanisms (“ARMs”), Regulators, etc., to automatically receive and send any information that was required to fulfill all the Investment Manager’s obligations.
Point Nine’s Success Story
The company’s success lies in its state-of-the-art proprietary cloud-based technology designed to help customers fulfill their regulatory reporting requirements, streamline their processes for storing, processing, and submitting data from various sources. Their product’s flexible architecture includes multifunctional portal features that can report customer activities in real-time. Furthermore, what makes Point Nine stand out from its competitors is its ability to access data from various systems, including customers’ in-house solutions. Their architecture has an automated way of fetching, receiving, or submitting enriched data while helping increase accuracy testing, perform advanced regulatory reconciliations, test reference data, and have a proper control framework.
As every customer’s operational flow is different, Point Nine takes an individual and personalized approach to work with each customer serving as the “bridge” between the regulator and customer, allowing them to shape their technology solutions and become more adaptable to customers’ needs.
Case Study 1 (Trifold):
The issue: Client uses multiple trading platforms, servers, hubs, bridges, and CRMs. Hence, their data are stored in different sources, and different logic is applied to each source. Their previous provider messed up with the complicated logic and reported wrong data.
The solution: Point Nine system gathers all the data into one place and applies any rules stated by the client in order to export accurate data.
Case Study 2:
The issue: NCA identified wrong outstanding positions for a company. They approached Point Nine to help them correct their data.
The solution: Point Nine built a custom reconciliation tool specially designed for this client, got all their backdated transactions, ran our reconciliation tool to find out the difference between the submitted transactions and the actually executed transactions, corrected any wrong reported information, re-submitted the problematic transactions and submitted any transactions that may have been missed.
They managed to match the outstanding positions reported to the NCA. There are similar other useful success stories, which Point Nine managed to solve efficiently.
The Future Plans of the company
Point Nine believes that a robust data governance framework is essential for compliance with required regulatory provisions. Because every customer’s operational flow is different, the company takes an individual and personalized approach to work with each customer serving as the “bridge” between the regulator and customer, which allows them to shape their technology solutions and become more adaptable to customers’ needs. Their relationship with the Regulators allows them to stay ahead of the upcoming changes and educate the clients on what is relevant to them. Their cutting-edge technology, fully automated and precise, backed by a team of driven professionals, gives peace of mind to regulatory reporting needs.
Point Nine has been growing and gaining momentum even amidst the Pandemic. Earlier this year, they expanded a Business Development Manager in Luxembourg, later in London, and are looking into expanding to Frankfurt and Dublin. Aside from the team and business’s growth, they are also expanding their portfolio to products and aiming to release a tool for iFRS-9 and iFRS-16 + 17. Apart from their solid plans for expanding their service and product portfolio, they are constantly monitoring regulators and regimes as well as the market and are alert to tackle needs deriving from such changes.
About the Director
Andreas Roussos is a versatile financial, business, and operations executive with an extensive portfolio of leadership successes across a wide range of organizations, including highly regulated functional platforms. He is committed to excellence while driving the optimal allocation of resources and talents.
Andreas is skilled in forging and cultivating productive relationships with clients and all levels of stakeholders – fuelling revenues and raising organizational recognition to industry leadership. He is also a published author on subjects associated with regulatory reporting and European Market Infrastructure Regulation (EMIR).
The Point Nine team quickly understood our niche offering and in no time figured out a way to adapt to our services. Moreover, all personnel are firstly greet people to work with and then, of course, outstanding professionals: Great people to work with,” Ioannis Petri, Managing Director, Athlos Capital.