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In the wake of projects for MiFID II and EMIR revisions, the pace of regulatory change shows no sign of abating. Financial institutions in Europe now need to focus their energy and resources on reporting under article 4 of the Securities Financing Transactions Regulation (SFTR).
Sharing EMIR’s aim to increase transaction reporting transparency, SFTR will require both financial and non-financial market participants to report details of their securities financing transactions (SFTs) to an approved EU trade repository (TR). These SFTs include repurchase agreements (repos), securities lending, sell/buy-back transactions and margin lending. Reporting must include all details of the relevant terms of the repo, stock or margin loan, the composition of the collateral, whether the collateral is available for reuse or has been reused, the substitution of collateral at the end of the day and the modifications applied.
SFTR represents a significant change to the securities financing world. In order to comply, many firms will need to change their existing processes and overcome many potentially complex challenges. The reporting obligation has 153 reportable fields based on ISO20022 standards, and firms engaging in SFTs will need an efficient, accurate and timely reporting process that is able to meet the requirements.
Industry expectation is that the reporting obligation will come into effect from Q3 in 2019 in a phased implementation; those firms engaging in strategic consultation now will be significantly better placed to adapt.
WITH FIT-FOR-PURPOSE TECHNOLOGY:
WITH SUPERIOR DATA CAPABILITIES:
WITH PROVEN REPORTING CAPABILITIES:
WITH A SEAMLESS IMPLEMENTATION SERVICE:
WITH WORLD-CLASS EXPERTISE:
Broadridge’s in-depth expertise in both securities finance and trade reporting regimes will enable clients to adapt to SFTR smoothly while minimizing operational disruption and reducing the resource impact of complying with multiple concurrent reporting mandates.
Turn regulatory demands into opportunity. For a complimentary consultation from our experienced team of SFTR reporting specialists, contact us today
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