Success Stories

Global Hedge Fund Slashes Transaction Reporting Costs

Published:12th June 2025

A global hedge fund relied on an ARM with basic validation, leading to longstanding MiFID reporting inaccuracies and high operational costs.
Qomply introduced advanced quality assurance and validation, quickly identifying and correcting historic reporting errors.
The firm automated end-to-end QA within daily workflows, improving oversight, issue tracking, and operational efficiency.
The result was a 65% reduction in costs, a 55% drop in reporting errors, and immediate risk mitigation with stronger governance.

Overview

Discover how a recognised Hedge Fund joined forces with Qomply to streamline reporting.

Global Hedge Fund Slashes Transaction Reporting Costs

Challenge

A large Global Hedge Fund was using an ARM to validate and send over 30 million MiFID transactions, annually, to the FCA.

The firm was unaware that ARMs used only the most-basic validation rules therefore there were inaccuracies in their reports dating back to the start of MiFID.

The firm was already spending upwards of 2 million per year for their transaction reporting when considering the fees of the ARM, regulatory operations staff, and compliance experts.

Facing escalating fees to correct historic reports and punitive fees to re-report, they contacted Qomply.

Qomply's platform provided the accuracy and comprehensive validation that we were missing, addressing reporting inaccuracies that had persisted for years. By replacing the ARM's basic validation with Qomply's advanced rules and robust processes, we gained clarity and confidence in our transaction reporting accuracy while significantly reducing costs.

- Compliance Director, Global Hedge Fund

Solution

Within two weeks of onboarding, the firm was sending its remediation files through Qomply’s Quality Assurance. This ensured that the back-reporting/remediation files were accurate.

Once the corrected reports were sent to the regulator, the next step was to integrate the Quality Assurance into the daily processing and remove the rules engine supplied by the ARM.

The firm has now automated end-to-end Quality Assurance into its daily routine. Daily issue tracking, escalation, and resolution are all part of the workflow, along with daily oversight reports for senior leadership.

Impact

Significant cost reduction: 65% reduction in overall reporting costs
Significant accuracy improvement: 55% reduction in reporting errors
Instant risk mitigation
Demonstrable due diligence in reporting
Best practices in Governance

Qomply helps financial firms achieve accurate, compliant transaction reporting across global regulatory regimes, while streamlining the operational and audit demands of regulatory reporting.

Our proprietary technology combines AI, automation and advanced data analytics to deliver scalable, audit-ready reporting intelligence. Through forensic-level quality assurance and streamlined reconciliation, Qomply helps firms strengthen data quality and reporting accuracy, automate controls, simplify audit processes and lower overall reporting costs.

Our technology provides greater oversight and operational efficiency while reducing the demands on internal teams.

For firms seeking to outsource their regulatory reporting operations, Qomply also offers a fully managed service. Combining our technology with deep regulatory expertise, Qomply Managed Services operates as an extension of, or alternative to, an in-house reporting function. This flexible model enables firms to outsource reporting operations while retaining the option to bring activities in-house as their own capabilities and resources evolve.

Request a tailored demo