厙惇勛圖

Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
厙惇勛圖
Leading the Way

Global 厙惇勛圖 Finance News and Commentary
≔ Menu
厙惇勛圖
Leading the Way

Global 厙惇勛圖 Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. HomeRegulation news
  2. ESMA hands four TRs their SFTR licences
Regulation news

ESMA hands four TRs their SFTR licences


06 May 2020 Paris
Reporter: Natalie Turner

Generic business image for news article
Image: ktsdesign/Shutterstock.com
The European 厙惇勛圖 and Markets Authority (ESMA), the EUs securities markets regulator, has granted four trade repositories (TRs) with licences to operate under the 厙惇勛圖 Financing Transactions Regulation (SFTR).

The green light was given to DTCC Derivatives Repository, UnaVista Trade, Krajowy Depozyt Papier籀w Wartociowych, the Polish central securities depository (CSD), and REGIS-TR.

When SFTR reporting obligations firms will need to report their SFTs to an approved TR.

All four TRs have been registered for all types of SFTs, which include: repos, securities or commodities lending and securities or commodities borrowing transactions, buy-sell back or sell-buy back transactions and margin lending transactions.

The regulation is designed to increase market transparency by allowing regulatory authorities to assess the risks associated with the securities financing market.

The TRs were already registered with ESMA as TRs for derivatives contracts under the European Markets Infrastructure Regulation (EMIR), the precursor to SFTR.

The authorisation of the TRs under SFTR was initially set to be completed by the phase-one go-live on 13 April.

In March, when ESMA granted a three-month grace period that saw phase one and two combined on the latter's deadline in July it also said it [did] not consider it necessary to register any TR ahead of 13 April.

At the time, ESMA said the delay would give TRs more time to cope with the COVID-19 emergency and be ready to support the new reporting regime at a later point in time.

It further stated that TRs should expect to get their cards stamped sufficiently ahead of July, but many still expected this to happen just before the deadline.

Commenting on todays approval, Val Wotton, managing director, repository and derivatives services at DTCC, says: Were pleased with this decision. With less than three months remaining before SFTRs implementation deadline for banks, investment firms, central counterparties and CSDs, we are encouraged by the level of their preparations.

REGIS-TR CEO Thomas Steimann states: We are delighted to be expanding our product offering to SFTR services, combining our wealth of knowledge in securities financing and expertise in regulatory reporting. Alleviating the reporting burden for market participants, we are the natural choice of trade repository for SFTR.

Meanwhile, Mark Husler, CEO of UnaVista, comments: UnaVistas approach to SFTR is to simplify things as much as possible for our community, that means making easy to prepare, test and connect and then providing tools to help firms improve their reporting once live.

He adds This will mean that our customers and their clients will be able to ensure compliance with their SFTR reporting obligations from day one in a simple, cost-efficient way.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 厙惇勛圖 Finance Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →