Dodd Frank – Are you ready? A ZE and WGC Partnership Provides Dodd-Frank Solutions

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With Obama’s re-election all speculations about repealing Dodd Frank Act are put to rest.  There is no ambiguity about its survival, though the industry may not be in perfect harmony about its existence, in what form and shape. With over two years since it was first signed as a law, there seem to be more questions than answers and gathering from the number of articles / reports / white papers published, the readiness of the industry at large is, at best, unsatisfactory. Apparently most are not ready. The repercussions for non-compliance can be huge, perhaps running into millions. So, the million (or few 100 of them) dollar question is “Are you Ready”?  If not, please read on.

The ZE / WGC partnership has made tremendous progress towards our final destination in becoming the industry leader in providing Dodd-Frank solutions.  ZE already has the infrastructure in place, thanks to our more than 15 years of ETLP (Extracting, Transforming, Loading and Publishing) experience in the Energy and Commodity market.  Our home grown product suite, ZEMA, is best suited for Dodd Frank reporting requirements.  During its existence, ZE has successfully integrated various client systems (legacy, commercial, in-house) with various E/CTRM systems.

WGC resources are functional and business experts in the Energy and Commodity industry.  Their Energy professionals average over 10 years of experience and their expertise is apparent in the solutions they provide to their clients.  WGC resources provide their Dodd-Frank clients with the knowledge and ability to turn Dodd-Frank rules into functional business requirements specific to their business.  Their unique blend of industry experience and Dodd-Frank expertise makes their Dodd-Frank services unparalleled in the consulting industry.

How can we help? 

We recently successfully utilized  ZE Data Manager  to schedule automated reporting of trade activity to ICE Trade Vault (ICE – TV) and received confirmation about successful execution of the trade or otherwise.  ZE Data Manager  ( a part of ZEMA product suite)  is a scheduling engine that can be wrapped around complex programming logic (called processor)  and can be made to execute them manually,  on schedule or based on a trigger/event, such as receiving a new trade in the database. ZE already has a few thousand processors developed in house, some of them specific to clients and others generic in nature.

As a part of this exercise we took high-level business requirements from the client and in tandem with WGC were able to tailor our technical specifications to the functional business requirements set forth by the client.  Based on the requirements, a ZE Data Manager processor was developed to persist the data to ICE – TV. A generic processor was then utilized to send an email to a list of receivers on receipt of data from by ICE-TV, whether a confirmation or an exception.

If that sounds exciting, please feel free to contact us for your Dodd-Frank reporting requirements.

PS: This blog is written jointly by Dan Masch from WGC and Baljeet Dhaliwal from ZE.

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