Nasdaq Secures Deal To Upgrade Austria's Regulatory Reporting Infrastructure

Nasdaq, Inc. NDAQ disclosed a partnership with Austrian Reporting Services (AuRep) to supply regulatory reporting technology for Austria’s financial sector.

Under the agreement, approximately 90% of Austrian credit institutions will transition their regulatory reporting infrastructure to the cloud, replacing their legacy on-premises system with Nasdaq AxiomSL.

By adopting Nasdaq AxiomSL as a Service (SaaS), AuRep can swiftly implement regulatory updates and scale capacity to support the Austrian banking sector.

The platform will seamlessly integrate future regulatory changes, including the EU’s upcoming Integrated Reporting Framework (IReF), ensuring efficient and cost-effective compliance.

IReF aims to standardize statistical reporting across euro-area banks but will require increased data volume, granularity, and reporting frequency—necessitating modernization of data architecture or cloud-based solutions for compliance.

This shift underscores the increasing demand for regulatory technology solutions that streamline banking architecture and enhance adaptability to future requirements.

Kenneth Born, CEO at Aurep, stated, “We selected Nasdaq AxiomSL to future-proof our Common Reporting Platform, optimized according to our Target Operating Model drawing on innovative, scalable, and fully compliant public cloud infrastructure.”

“It enables banks to create and submit reports legally required under Austrian and European regulations, with tailored and efficient software in a consistent and highly standardized manner, while realizing economies of share.”

Last month, the financial services company reported fourth-quarter revenue growth of 10% year-on-year to $1.227 billion, marginally beating the analyst consensus estimate of $1.226 billion and adjusted EPS of 76 cents, which beat the analyst consensus estimate of 75 cents.

Price Action: NDAQ shares closed higher by 0.62% at $80.04 on Wednesday.

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