ICMA ERCC Ops Group publishes standardised Trade Matching and Affirmation template for repo

We are pleased to inform you that the ICMA ERCC Operations Group published today a standardised template for trade matching and affirmation of repo transactions. The ‘TMA Template’ sets out recommended mandatory and optional matching fields, working alongside a Glossary of terms defining each of the matching fields. The Template is intended to provide a standard basis on which the industry can match its trades and meet the upcoming regulatory requirements for matching, transaction reporting and settlement efficiency, as they will be introduced for instance by the upcoming CSD Regulation and the SFT Regulation. It is the result of several months of work of the ERCC Operations Group and has been developed in consultation with the relevant post-trade vendors.

For further information on the initiative and to access both documents, the TMA template and the Glossary, please click here.

In order for the initiative to be successful, this will have to be an industry-wide effort. The ERCC Operations Group is therefore keen to actively involve all participants in SFT markets, sell- and buy-side, as well as the relevant post-trade service providers and infrastructures. As a first step, an industry-wide workshop event will be organised in early 2016 to present and discuss the TMA Template and related work of the ERCC Operations Group. The workshop will take place in the second week of February (w/c 8 February) and will be hosted by J.P. Morgan (60 Victoria Embankment). An official invitation to the event with more detailed information will follow in due course.

Should you have any questions in relation to the TMA template or the related work of the ERCC Operations Group please do not hesitate to contact us at ercc@icmagroup.org.

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