London - NEX Regulatory Reporting intends to apply to become a trade repository for the Securities Financing Transactions Regulation (SFTR) and launch a dedicated reporting solution, pending the issuance of the final technical standards from ESMA.
NEX Regulatory Reporting will add the SFTR trade repository and solution to its Global Reporting Hub to provide clients with an end-to-end solution for the securities lending and repo markets.
The SFTR trade repository will be built and hosted in the cloud. Leveraging the NEX portfolio of services, NEX Regulatory Reporting will connect to the BrokerTec and ENSO platforms so that clients can automatically transfer their transaction data to the SFTR trade repository.
The BrokerTec EU repo platform currently processes 10,000 repo trades per day with a total nominal trading volume of €250 billion, for over 90 clients, while the ENSO platform services over 100 hedge fund and asset management clients and has $1 trillion in client assets under advisory.