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SFTR Reporting

The Securities Financing Transactions Regulation, SFTR (Regulation (EU) 2015/2365) entered into force on 12 January 2016.

Relevant Regulation: Securities Financing Transactions Regulation (EU) 2015/2365 (SFTR) on the transparency and reuse of securities financing transactions

Start date: 13 July 2020

Regulatory Type: Regulatory reporting

Types of firms affected: EU counterparties to SFT contracts such as banks, investment firms, CCPs, CSDs, insurance, reinsurance undertakings, pension funds, UCITs, AIFs and non-financial counterparties

Supervisory authority: NCAs, ESMA

Frequency of reporting: T+1

The Securities Financing Transactions Regulation SFTR

Under this service,  Complyport, on behalf of the client, reports the execution details of each SFTR Reportable Transaction and of any modification, update or termination to a TR within the timeframes set by the SFTR Legislation. Via this service, Complyport also maps all contractual data with the technical requirements mandated by the SFTR Legislation. Complyport will maintain and update the pertinent fields to reflect the latest SFTR transaction reporting requirements.

Challenges

  • Analysis and interpretation of complex SFTR regulation and TR requirements
  • Various transaction types (Repo, Buy-Sell Back, Securities Lending, Margin Lending) and action types (Daily Valuation and Collateral Updates, etc.) to be reported
  • Dedicated resources for technology, infrastructure and regulatory aspects
  • Extra effort, time and costs required
  • Complicated multilevel XML files
  • Strict technical specifications with minimum to zero tolerance in field matching

Risks

  • Lack of expertise that might lead to errors in your reporting
  • Missing regulatory updates that may affect your reporting
  • Limited capacity for daily reporting monitoring and meeting the requirements

Key Features

  • Scalable solution that can report as many transactions as you have
  • User-friendly portal to help you report the necessary information and routinely monitor your reporting
  • Comprehensive field, data and entity mapping capability
  • Multiple reporting health checks (validations) for both content and schema
  • Automatic conversion of data to XML
  • TR connectivity and support covering all types of transactions and action types
  • On-going communication with regulators to ensure the system reports reflect regulatory updates and changes

Benefits

  • Technology optimization
  • Integrated dashboard that provides a holistic view of all reports
  • Comprehensive regulatory reporting IT infrastructure resulting in long term cost efficiencies
  • Cost-efficient integrated reporting solution provided under a single platform

Solution Includes

  • A team of specialists that will set up the service and provide necessary training
  • SFTR training throughout the implementation process to ensure that key personnel understand the regulation and process
  • Support to answer any queries regarding the system and regulatory updates
  • Access to our Polaris Portal dashboard to control, manage and monitor the reporting
  • Integration with an authorised TR by ESMA
  • Daily tracking of SFTR reporting

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