What is SFTR?
The “MiFID II for repo”, SFTR is the Securities Financing Transactions Regulation, an EU law that introduces transaction reporting obligations for the repo and buy-sell back markets. In general, both counterparties to a trade need to report.
Who is in scope for reporting?
With some limited exemptions:
- EEA firms, including their EEA and non-EEA branches.
- EEA branches of non-EEA firms.
What needs to be reported?
Trades, lifecycle events such as collateral updates and collateral reuse will have to be reported to a Trade Repository, such as UnaVista, by T+1.
When will I need to report under SFTR?
SFTR reporting – provisional timeline
Up to 110 fields are in scope for repo with 57 matching fields high risk of “reporting breaks”
How will I report under SFTR?
Significant challenges for both D2D and D2C repo
MTS enables Buyside and Sellside to overcome these challenges
Automate D2D and D2C repo with MTS Repo