DTCC has connected its global trade repository to securities financing data firms EquiLend, Trax, IHS Markit and Pirum to ease the process for incoming reporting requirements.
Through the collaboration, DTCC will be able to offer straight through processing and offer links to mutual clients’ existing technology for a Securities Financing Transaction Regulation (SFTR) reporting solution.
EquiLend and Trax’s SFTR service will connect to DTCC’s Global Trade Repository (GTR) via Trax’s reporting hub for all SFTR-eligible asset classes, including repo, securities lending and margin lending.
“Straight-through processing is key for an SFTR solution. From our point of trade through to data enrichment and matching services, this should significantly enhance onward reporting to GTR,” said Brian Lamb, CEO of EquiLend.
IHS Markit and Pirum’s integrated service will also connect to GTR, providing data management and reconciliation capabilities.
DTCC has recently rolled out enhancements to its GTR through a complete re-architecture of its European trade repository.
“Our re-architecture, coupled with these strategic collaborations, will position us well to support our mutual clients’ SFTR requirements,” said Chris Childs, president and CEO, DTCC Deriv/SERV.
“The industry has invested heavily in establishing an infrastructure for OTC derivatives trade reporting and this is an example of identifying opportunities to expand the use of the existing platform for SFTR.”
DTCC intends to submit an application to become a registered trade repository under SFTR once relevant technical standards on the application process are published by regulators.