DTCC Announces New Trade Reporting Enhancements in Light of SFTR Requirements

The Depository Trust & Clearing Corporation (DTCC) announced new efforts to further streamline its global trade reporting capabilities as market participants prepare for the upcoming reporting requirements contained within the Securities Financing Transaction Regulation (SFTR), which are expected to begin to take effect in late 2019. SFTR will require firms which are subject to SFTR to report securities financing transactions including repurchase agreements, securities lending and margin lending trades to a registered Trade Repository. By collaborating with EquiLend & Trax and IHS Markit & Pirum, DTCC will be able to offer greater levels of straight through processing, with links to mutual clients’ existing technology, for a SFTR reporting solution. Each of the firms will build to DTCC’s GTR and enrich data to SFTR reporting standards. This builds upon DTCC’s existing vendor relationships, where over 150 firms already connect their technology solutions to GTR via DTCC’s established Partner Program. DTCC intends to submit an application 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).