Consortium of Five Global Banks Launches Droit-Supported Position Reporting Utility.

BANKING AND CREDIT NEWS-September 25, 2023-Consortium of Five Global Banks Launches Droit-Supported Position Reporting Utility

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UK-based Endoxa, a consortium of five financial institutions including Barclays, BNP Paribas, Goldman Sachs and HSBC, will collaborate to develop a Position Reporting Utility and are pleased to select Droit as the technology provider, the consortium said.

Global position reporting rules require market participants to report securities holdings to regulatory bodies; a process that is complex, time consuming and creates duplicative effort across the industry.

The aim of the newly-established Position Reporting Utility...

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