REGIS-TR will collaborate with IHS Markit to provide an interoperable, full service reporting solution for Securities Finance Transaction Regulation (SFTR) requirements.
IHS Markit recently announced that BNY Mellon, Brown Brothers Harriman, Deutsche Bank Agency Lending, eSecLending, J.P. Morgan and Rabobank have signed on as design partners for the SFTR reporting solution that it is building with Pirum Systems. Each member of the initial design group will contribute their requirements and market expertise to ensure the fully-hosted, end-to-end reporting framework suits the diverse needs of the securities lending and repo communities.
Irene Mermigidis, Managing Director, REGIS-TR said: “IHS Markit is working with industry leaders to design an SFTR reporting solution that can ease the complexity of routing data to trade repositories. Their data management and augmentation service, together with our flexible account models and cost effective solution, provide market participants with a robust framework for SFTR compliance. We are delighted to be working with IHS Markit on this initiative.”
Pierre Khemdoudi, managing director of Securities Finance, IHS Markit, said: “I’m delighted to be collaborating with REGIS-TR for our SFTR reporting solution. Having one of Europe’s largest trade repositories, with established pedigree in the SFT space, deliver the crucial final step of our end to end reporting solution will be a major asset to our solution’s user base, ensuring that we live up to our goal of delivering a seamless, fully interoperable, SFTR solution.”
SFTR requires EU counterparties to report their securities finance transaction details to a registered trade repository. IHS Markit’s SFTR reporting solution will combine its leading data handling and management capabilities with REGIS-TR’s expertise as one of Europe’s largest EMIR trade repositories. Together, the firms will offer a fully-hosted solution that leverages existing industry data workflows to lower the cost and operational burden of SFTR.