The Gateway to Algorithmic and Automated Trading

Six firms partner with IHS Markit to address SFTR reporting requirements

First Published 2nd October 2017

BNY Mellon, Brown Brothers Harriman, Deutsche Bank Agency Lending, eSecLending, J.P. Morgan and Rabobank join IHS Markit and Pirum Systems to design a securities lending and repo reporting solution

London - IHS Markit, the provider of critical information, analytics and solutions, has partnered with six leading securities finance market participants as part of its ongoing effort with Pirum Systems to build a solution to address Securities Finance Transaction Regulation (SFTR) reporting requirements.

Joining IHS Markit as design partners for the SFTR reporting solution are BNY Mellon, Brown Brothers Harriman, Deutsche Bank Agency Lending, eSecLending, J.P. Morgan and Rabobank. Each member of the initial design group will contribute their requirements and market experience to enable the fully-hosted, end-to-end reporting framework to suit the diverse needs of the securities lending and repo communities.

The IHS Markit SFTR reporting solution will ultimately enable market participants impacted by SFTR to report transactions through an interoperable, modular platform. These modules will assist in handling the complex data challenge posed by SFTR from data exchange, enrichment and warehousing - from reconciliation and reporting to approved trade repositories. Users will also be able to leverage this solution to comply with the reporting requirements mandated by MiFID II.

SFTR was enacted by the European Parliament in 2015 to provide greater transparency on cross-asset class lending, borrowing, repurchase agreements and sale/buy-back agreements among counterparties in the EU. The regulation will be phased in through 2019, and additional reconciliation requirements are under consideration for a later date.