SECURITIES FINANCE

IHS Markit and REGIS-TR partner for SFTR reporting service

REGIS-TR will work with IHS Markit on interoperable SFTR reporting solution.

By Hayley McDowell editors@globalcustodian.com November 28, 2017 2:24 PM GMT

IHS Markit and central trade repository REGIS-TR have teamed up to provide a reporting tool for the Securities Finance Transaction Regulation (SFTR).

The SFTR reporting service and IHS Markit’s data handling and management tools will combine with one of Europe’s largest EMIR trade repositories in REGIS-TR.

In October, JP Morgan and BNY Mellon were among the six securities market finance participants who signed up as design partners for the SFTR reporting service.

IHS Markit said the partners will contribute their requirements and market expertise to ensure the reporting framework suits the needs of the securities lending and repo industries.

Pierre Khemdoudi, managing director of Securities Finance at IHS Markit, explained the collaboration with REGIS-TR will establish a ‘pedigree’ in the securities finance transaction space.

Irene Mermigidis, managing director at REGIS-TR, added IHS Markit is working with the industry to ease the complexity of routing data to trade repositories.

“[IHS Markit’s] data management and augmentation service, together with our flexible account models and cost effective solution, provide market participants with a robust framework for SFTR compliance,” Mermigidis said.

SFTR requirements will see EU counterparties report securities finance transactions to registered trade repositories.