SEB to use DTCC for securities finance reporting

SEB has become the second bank to select the trade repository for securities lending reporting, after Societe Generale signed up to the service in February.

By Joe Parsons

Sweden’s SEB will use DTCC’s global trade repository (GTR) to support its reporting obligations under the incoming securities finance transactions regulation (SFTR).

SEB has become the second bank to select the trade repository for securities lending reporting, after Societe Generale signed up to the service in February.

“SFTR is a major focus area, so choosing the right partner to deliver this project was of the upmost importance to us,” said Petra Tigerholm, head of markets regulatory reporting, SEB.

“We look forward to working together to deliver regulatory compliance for ourselves and our customers.”

DTCC recently partnered with a number of securities lending data and reporting vendors for its SFTR offering, including Broadridge, FIS, EquiLend/Trax, IHS Markit/Pirum, Murex, RegTek.Solutions and SimCorp.

“SEB is a valued client and we’re delighted they will be leveraging our one-stop SFTR offering to fulfill their forthcoming regulatory obligations, and are ready to extend its capabilities to additional market participants in the coming months,” said Chris Childs, president and CEO, DTCC Deriv/SERV.

SFTR reporting requirements are expected to come into force from April 2020.

In September, SEB signed up to DTCC ALERT’s Regional Custodian workflow, through Brown Brothers Harriman (BBH), for storing standing settlement instructions (SSI) data related to fund assets in custody. 

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