DTCC partners with RegTech firms for wider SFTR coverage

The partnerships expand DTCC's support coverage for the incoming securities financing transaction regulation (SFTR).

By Joe Parsons

DTCC has partnered with three regulatory technology (RegTech) vendors as it looks to expand its support coverage for the incoming securities financing transaction regulation (SFTR).

The post-trade service provider has partnered with Catena Technologies, Compliance Solutions Strategies (CSS) and Finastra to offer support to mutual clients that will leverage the DTCC’s Global Trade Repository (GTR) for SFTR reporting.

“Our Partner Program supports this mission by actively promoting collaboration with global and regional financial technology providers to help mutual clients to mitigate risk, achieve market efficiencies and reduce costs – and SFTR is, rightly so, front of mind for many right now,” said Marisol Collazo, managing director for business development and head of strategic partnerships, DTCC.

Last year, DTCC partnered with a number of tech vendors to grant wider access to its SFTR reporting service, including Broadridge, EquiLend, FIS, IHS Markit, Murex, Trax, RegTek.Solutions and SimCorp. 

“DTCC strives to transform the post-trade ecosystem through strategic partnerships that drive client value while accelerating the adoption of new initiatives and best-practices across the financial services industry,” said Val Wotton, managing director of product development and strategy of repository and derivatives services, DTCC.

Under the new rules aiming to increase transparency into securities financing transactions such as securities lending and repo, pension and UCITS funds will have to start reporting from the fourth quarter in 2020.

However, some funds are now considering a “soft go-live” date prior to their deadline, and dealers are going to require pieces of information prior to that deadline such as Legal Entity Identifiers (LEIs) and Unique Transaction Identifier (UTI) to identify their counterparts, along with a number of other parties involved in the securities financing transaction.