The Depository Trust and Clearing Corporation (DTCC) announced new efforts to further streamline and enhance its global trade reporting capabilities as market participants prepare for the upcoming reporting requirements contained within the Securities Financing Transaction Regulation (SFTR), which are expected to begin to take effect in late 2019. SFTR will require firms which are subject to SFTR to report securities financing transactions including repurchase agreements, securities lending and margin lending trades to a registered Trade Repository.
By collaborating with EquiLend, Trax, IHS Markit and Pirum, DTCC will be able to offer greater levels of Straight-through Processing (STP), with seamless links to mutual clients’ existing technology, for a quick-to-implement and cost-effective SFTR reporting solution. Each of the firms will build to DTCC’s GTR and enrich data to SFTR reporting standards. This builds upon DTCC’s existing vendor relationships, where over 150 firms already connect their technology solutions to GTR (Global Trade Repository).
EquiLend and Trax’s comprehensive SFTR service will connect to GTR via Trax’s reporting hub for all SFTR-eligible asset classes. IHS Markit and Pirum’s fully integrated service offering will also connect to GTR via IHS Markit, providing data management and reconciliation capabilities and covering all SFTR reportable transactions.