Pan-European trade repository REGIST-TR has partnered with EquiLend and Trax to provide a reporting solution for the upcoming Securities Financing Transaction Regulation (SFTR).
EquiLend and Trax currently provide a joint solution for reporting, point-of-trade matching, exception management and lifecycle event management. This allows firms to obtain a pre-repository match to ensure accurate reporting and efficient exception management processing.
The partnership with REGIST-TR will allow the joint product to benefit from intraday reconciliation and assist with SFTR compliance.
“We have received significant demand from participants who intend to use the EquiLend and Trax SFTR solution. Their combined expertise in securities lending and repo trade confirmation has resulted in a fully comprehensive service covering all SFTR eligible asset classes,” said Irene Mermigidis, managing director, REGIS-TR.
“The data enrichment and matching services should provide participants with higher levels of data quality upstream of REGIS-TR, reducing exception management overheads and ensuring higher levels of regulatory compliance.”
The partnership is the second with a trade repository for EquiLend and Trax’s joint solution. In June, both firms connected to DTCC’s Global Trade Repository for reporting all SFTR-eligible asset classes, including repo, securities lending and margin lending transactions.
“With their [REGIS-TR] strong pedigree as a trade repository with securities lending, repo and collateral management expertise, means that we can deliver our mutual clients a frictionless, fully interoperable solution,” added Laurence Marshall, managing director, EquiLend Europe.