REGIS-TR, the pan-European specialist in G20 trade repository services, has confirmed that it will collaborate with EquiLend, one of the leading providers of trading and post-trade services for the securities finance industry, and Trax, a leading provider of capital market data, trade matching and regulatory reporting services to the global securities market, to provide an end-to-end reporting solution for Securities Financing Transactions Regulation (SFTR) requirements.
EquiLend and Trax offer a joint solution that provides firms with access to a single regulatory reporting hub, point-of-trade matching, exception management and lifecycle event management, which allows firms to obtain a pre-repository match to help ensure accurate reporting and efficient exception management processing. The solution provides enrichment of counterparty and security reference data, and firms can choose from an assisted reporting solution, where a firm routes the data themselves to their trade repository, or a fully delegated reporting solution, where reports are generated and forwarded to the trade repository of choice.
The EquiLend and Trax SFTR solution is uniquely positioned to help firms meet their SFTR requirements through the interoperable nature of the solution. When clients book a trade on EquiLend NGT, the industry-leading securities finance trading platform, EquiLend and Trax will derive additional SFTR-required data. Trax will match the information in a centralised booking process and seamlessly route the required information to a trade repository. By leveraging this joint solution, the aim is to ensure clients can benefit from REGIS-TR’s unique intraday reconciliation capability which will, within minutes of trade execution, assist with SFTR compliance.
Irene Mermigidis, Co-Managing Director, REGIS-TR said: “We have received significant demand from participants who intend to use the EquiLend and Trax SFTR solution. Their combined expertise in securities lending and repo trade confirmation has resulted in a fully comprehensive service covering all SFTR eligible asset classes. The data enrichment and matching services should provide participants with higher levels of data quality upstream of REGIS-TR, reducing exception management overheads and ensuring higher levels of regulatory compliance. We’re delighted to be working with them on this initiative.”
Laurence Marshall, Managing Director, EquiLend Europe Limited, said: “Trade repositories like REGIS-TR provide the final and complementary step in our end-to-end reporting solution. Their regulatory reporting prowess as one of the largest trade repositories in Europe, together with their strong pedigree as a trade repository with securities lending, repo and collateral management expertise, means that we can deliver our mutual clients a frictionless, fully interoperable solution.”
Christopher Smith, Head of Trax, said: “We have been working closely with industry participants to ensure that we have a complete solution to help firms be compliant with SFTR. The aim of the collaboration with REGIS-TR is to further emphasise the value of this joint solution and the value it will bring to the market ahead of the SFTR go-live.”
REGIS-TR is open to financial and non-financial institutions and services all of the major regulatory reporting obligations in Europe. The trade repository collects and administers details of trades and transactions reported by its clients to give market participants and regulators an aggregated view of positions in compliance with the appropriate regulations. In addition to its core services, REGIS-TR is already progressing well towards its goal of becoming a one-stop-shop for regulatory reporting requirements. In addition to SFTR, it already provides cost effective EMIR and FinfraG regulatory reporting services to more than 1,500 client accounts – facilitating transparency to national and pan-European regulatory bodies.
REGIS-TR is co-owned by Clearstream and Iberclear. Clearstream is one of the leading providers of global securities lending, repo and collateral management solutions. Iberclear is the Spanish CSD providing settlement, custody and registration of securities, among other services.
EquiLend is a leading provider of trading and post-trade services for the securities finance industry with offices in New York, London, Hong Kong and Toronto. EquiLend is owned by BlackRock, Credit Suisse, Goldman Sachs, JP Morgan, JP Morgan Chase, Bank of America Merrill Lynch, Morgan Stanley, Northern Trust, State Street and UBS.
Used by securities borrowers and lenders globally, the EquiLend platform (for equities) and BondLend platform (for fixed income) automate formerly manual trading and post-trade processes in the securities finance industry. DataLend provides performance reporting and aggregated, anonymized, cleansed and standardized securities finance data covering all asset classes, regions and markets globally. EquiLend Clearing Services operates the ECS Middle Office and the ECS Gateway, which offer CCP services and connectivity. www.equilend.com