DTCC Extends Partner Ecosystem to Support SFTR Reporting Processes

Blog entry

DTCC has partnered Broadridge, FIS Global, Murex, RegTek.Solutions and SimCorp to support mutual clients with forthcoming Securities Financing Transactions Regulation (SFTR) obligations, which are expected to take effect in the first quarter of 2020. The partners will link their SFTR solutions to DTCC’s Global Trade Repository (GTR), allowing market participants to benefit from straight-through reporting workflows and lower costs of implementation.

These firms join EquiLend, IHS Markit, Pirum and Trax as partners linking to DTCC’s GTR service in support of SFTR requirements. DTCC intends to apply to become a registered trade repository under SFTR once relevant technical standards governing the application process are put in place by the European Securities and Markets Authority (ESMA).

Chris Childs, president and CEO at DTCC Deriv/SERV, says: “Theses partners are key providers that automate different aspects of the securities lending and repo market. Our strategic collaborations with them demonstrate our interest in continuing to deliver increased value to clients that need to meet SFTR mandates.”

Brian Lynch, CEO of RegTek.Solutions, one of the DTCC SFTR partners, comments: “Our products are backed by an SLA to stay up to date with the latest global regulatory changes. Working with DTCC is crucial for us to meet this commitment with mutual clients, and we are delighted to continue our collaboration around the SFTR challenge. The data remediation lift is huge, and as we wait for the technical standards to be approved, firms should get themselves prepared.”

David Lewis, senior director at FIS Global, another DTCC SFTR partner, adds: “FIS Global is delivering SFTR data direct from its trading systems, Global One and Apex Securities Finance, into DTCC’s GTR and giving our mutual clients the most cost effective straight through solution available. FIS Global’s approach to SFTR is to manage and deliver data direct from the books and records systems of the client, removing the need for additional dependencies and costs.”