Fund-Level Hedging
Fund Finance
Accurate, timely and transparent reporting support for EMIR, ASIC, MiFID and custom reporting requirements.
Regulatory reporting can create significant operational burden when multiple entities face multiple banking counterparties and place hundreds or thousands of trades across OTC derivatives.
Validus supports daily trade and valuation reporting submissions, daily reconciliations, back reporting projects and ad hoc reporting. Transparent reporting gives clients confidence that activity has been captured, submitted and evidenced on time.
Validus supports EMIR trade reporting once scope has been determined, helping clients manage reporting to the trade repository across relevant trading entities.
ASIC reporting supports Australia-domiciled entities with applicable trade reporting obligations, including daily transaction and valuation reporting, collateral reporting and reconciliations.
Validus supports relevant clients with the operational process required to manage MiFID reporting for in-scope transactions.
Custom reporting supports client-specific needs across reporting frequency, format, instrument type, entity structure or internal reporting requirements.
Regulatory Reporting is backed by the scale and track record Validus brings across private capital.
200+
client relationships
1,100+
funds served
$3tn+
client AUM
100%
client retention
Validus gives clients greater transparency across regulatory reporting activity, with clear visibility into submitted trades, reconciliations, valuations, confirmations and reporting status across relevant entities and counterparties.
Processes designed to capture reportable trades, support T+1 submission requirements and reduce the risk of missing or incomplete records.
Periodic overviews give clients clearer visibility into reportable trades, positions and confirmation of reporting status.
Specialist support helps investigate discrepancies, bridge technical knowledge gaps and provide reporting detail when questions arise.
The Validus Horizon platform brings regulatory reporting into a single view: submitted trades, reconciliations, valuations, confirmations, and reporting status across every in-scope entity. Transaction and valuation data is enriched, submitted on time, and reconciled against counterparties, then evidenced through periodic overviews, so teams can confirm what has been reported and answer regulator queries with a clear audit trail.
Validus operates the reporting while the regulatory obligation remains with the manager, as is standard across delegated reporting. The team captures in-scope transactions, prepares and submits the reports, investigates discrepancies when they arise, and provides the records managers need to evidence compliance, so oversight stays with the manager without the day-to-day operational burden.
Your legal counsel determines scope; Validus operates the reporting once scope is confirmed. In-scope status is driven by the jurisdiction of the trading entity and by classification: financial counterparties whose AIFM carries a reporting obligation, for example, pull subordinate entities into scope. Validus does not act as a regulatory advisor, so the legal determination stays with counsel while the reporting itself is set up and run across every confirmed entity.
Yes. EMIR and UK EMIR run as parallel regimes, and some counterparties are in scope of both, including EU AIFs managed by UK AIFMs and UK AIFs managed by EU AIFMs. Reliance on a counterparty also narrows across borders: an EU NFC- remains responsible for its own reporting when trading with a UK FC, and the same applies in reverse. Validus consolidates reporting across UK and EU entities under one service.
The workload scales with classification. For NFC- entities, Validus reports static and counterparty information. For NFC+ and FC entities, Validus also calculates a valuation for every open position each day and reconciles it with counterparty banks. Daily valuation reporting is a significant undertaking at scale, and Validus owns the full workload as part of the service, configured entity by entity at onboarding.
Delegation does not transfer responsibility: under EMIR, a counterparty remains responsible for the accuracy of data reported on its behalf. That makes oversight of what is actually submitted essential. Validus provides a dedicated service with direct expert support, daily visibility of submissions, and reliable access to historical reporting data, which is often unavailable through banks when auditors or regulators ask.
Onboarding rests on three contractual steps: negotiating and executing a Validus commercial contract, executing a Delegated Reporting Agreement or its equivalent, and agreeing a termination date with your counterparty banks for the existing reporting service, which applies to EMIR trade reporting only. Once those are in place, reporting begins on the agreed cadence.
MiFID transaction reporting is the obligation on investment firms to report the details of in-scope transactions to the regulator under MiFIR, the reporting regulation that accompanies MiFID II. Reports cover the transaction details regulators use for market surveillance and are due no later than the close of the working day after execution.
The obligations sit at different levels. EMIR reporting applies entity by entity: each in-scope trading entity’s OTC derivative trades are reported to a trade repository. MiFID reporting is conducted at the investment-manager level, attaching to the firm that manages the trading rather than to each fund entity. Many managers carry both obligations at once.
Scope determination sits with the manager’s legal or regulatory counsel; Validus does not act as a regulatory advisor. Once counsel confirms which obligations apply, Validus sets up and operates the reporting process on the manager’s behalf, across the transactions and requirements counsel has confirmed.
EMIR 3.0 sharpens the focus on data quality. Counterparties must put appropriate procedures and arrangements in place to ensure the quality of reported data, NCAs are expressly required to penalize repeated manifest reporting errors, and penalties become public. ESMA is due to publish the final reporting RTS by 25 December 2026. Validus works alongside Travers Smith on EMIR 3.0: Travers Smith advises on the legal position, Validus operates the reporting and reconciliation.
Validus designs and manages currency and interest rate hedging programs for funds, from quantifying exposure and setting the strategy through execution and rebalancing as portfolios and markets move.
For transactions like acquisitions, exits, or refinancings on tight deadlines, Event-Driven Hedging applies the same risk quantification and strategy design on a compressed, deal-specific timeline.
Advisory and operations for the credit facilities funds rely on, including GP commitment, NAV, and capital call lines, with Fund Finance Ops handling day-to-day facility operations.
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