Pirum鈥檚 SFTR solution enables new counterpart communication function
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Pirum鈥檚 SFTR solution enables new counterpart communication function 12 May 2021UK Reporter: Alex Pugh
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Pirum鈥檚 网爆吃瓜 Financing Transactions Regulation (SFTR) solution now has intra-team and cross-counterparty trade comment functionality.
Working with IHS Markit, Pirum鈥檚 joint SFTR solution already helps firms manage risk and reduce report submission rejections when submitting to trade repositories (TR), providing data on pre-match and unique trade identifiers between counterparts.
The new enhancement service workflow means users can communicate with their team and counterparts in one place, helping to mitigate pairing and break issues between parties.
This will be of particular use to cross-jurisdictional reconciliation between the UK and European entities, despite this no longer being in scope for TRs. Pirum will continue to support firms reconciling the full data set 鈥� and provide the new enhanced messaging functionality 鈥� for these trades.
Head of SFTR at Pirum Duncan Carpenter says further enhancements are planned in the coming months: 鈥淲e鈥檝e worked closely with firms with the phased rollout of our reconciliation functionality. Now the initial focus on unique trade identifier sharing has bedded in, today's rollout of additional workflow tools will help counterparts manage the resolution of breaks.鈥�
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