The volume and complexity of data required to comply with SFTR will prove challenging in an environment where many companies already face significant technology budget constraints.
Market participants have options on how to meet their SFTR reporting requirements, including compiling and processing the information on their own from disparate internal systems or outsourcing the effort to a vendor. Yet both will require significant investment and process changes that will be both difficult to implement and costly for market participants.
EquiLend offers the industry’s simplest solution. Our unique position in the market—with existing links to market participants to our industry-leading trading, market data and post-trade services—means we already capture much of the information required by SFTR. That enables us to create the unique transaction identifier (UTI) immediately either at the point of trade or during the post-trade comparison process.
Furthermore, the ESMA consultation paper on draft RTS and ITS, ESMA/2016/1409, confirms that timestamps remain a required field, but a level of tolerance can be applied. The proposal is that several minutes can be applied to a timestamp field, such as execution timestamp. EquiLend provides a timestamp for all activity that clients undertake across the platform.
As a result of EquiLend’s technological capabilities, industry expertise and unique position in the securities finance market, we are able to offer a scalable, cost-effective, light-touch solution—the simplest solution in the market to meet the demands of SFTR.
Visit EquiLend’s website for more information on their SFTR offering.