LSEG’s UnaVista and MTS Collaborate on SFTR Reporting Solution
- Securities Financing Transactions Regulation (SFTR) expected to go live in 2019
- SFTR will require firms to report transactions including repo trades to an approved EU trade repository
- Firms trading on MTS’s new Global Collateral Management segment can utilise UnaVista’s Trade Repository
London Stock Exchange Group today announces that MTS and UnaVista are collaborating to offer a regulatory reporting solution for firms who execute Securities Financing Transactions (SFTs), such as repo trades. Market participants with a connection to UnaVista Trade Repository and who trade repo contracts on the new Global Collateral Management (GCM) segment of MTS BondVision will be able to match initial trade data fields, creating an entry in the UnaVista portal which can be populated and enriched with additional data.
The proposed regulation covers SFTs conducted by any firms established in the EU, regardless of where the individual branch is. It will also include SFTs conducted by EU branches of non-EU firms, and any SFT where the securities used are issued by an EU issuer or by an EU branch of a firm. The proposal also explicitly identifies UCITS funds and AIFM funds as being subject to the regulation in its final form.
UnaVista Trade Repository went live for EMIR trade reports in 2014, ensuring customer compliance with reporting obligations across asset classes*. MTS’s GCM segment enables the trading of bilateral and centrally cleared repo contracts between sell-side and buy-side participants via Request for Quote or OTC registration.
The collaboration will provide a single solution for the trading and reporting of SFTs with seamless front-to-back reporting of Unique Transaction Identifiers (UTIs), timestamps, ISINs and other product identifiers.
Mark Husler, CEO of UnaVista said:
“UnaVista is delighted to work with MTS, a leading repo trading venue in Europe, for the upcoming SFTR regulation. UnaVista has a proven track record of offering clients reporting solutions ahead of regulatory go-live, ensuring clients have the tools to allow them to meet their reporting obligations from day one.”
Fabrizio Testa, CEO of MTS said:
“Our new Global Collateral Management segment offers customers an automated, regulated and orderly market for repo transactions. Linking up with UnaVista to offer our clients a reporting solution for their repo trading ahead of the introduction of SFTR was a natural fit.”
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For further information:
Ed Clark +44 (0)20 7797 1222
Notes to editors:
*UnaVista will apply to become a trade repository for SFTR when the application window opens
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. The Group can trace its history back to 1698.
The Group operates a broad range of international equity, ETF, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS (Europe's leading fixed income market); and Turquoise (a pan-European equities MTF). Through its platforms, LSEG offers market participants, including retail investors, institutions and SMEs unrivalled access to Europe’s capital markets. The Group also plays a vital economic and social role, enabling companies to access funds for growth and development.
Through FTSE Russell, the Group is a global leader in financial indexing, benchmarking and analytic services with approximately $15 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of data services, research and analytics through Mergent, SEDOL, UnaVista, XTF and RNS.
Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of LCH, a multi-asset global CCP operator, LSEG owns CC&G, the Italian clearing house; Monte Titoli, a leading European custody and settlement business.
LSEG is a leading developer and operator of high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity, hosting and quality assurance testing. MillenniumIT, GATElab and Exactpro are among the Group’s technology companies.
Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 4,000 people.
Further information on London Stock Exchange Group can be found at www.lseg.com