Pirum Systems and IHS Markit have successfully completed a full end-to-end test for Rabobank and its reporting of securities financing transactions (SFT).
The test included ingestion, enrichment, validation and submission of SFTs, set out in the incoming SFT regulation (SFTR), from trade capture through to reporting to the DTCC’s Global Trade Repository (GTR) service.
“Our testing environment can now be leveraged to submit trades for data validation, enrichment, report creation, ISO transformation and TR submission,” said Pierre Khemdoudi, managing director and global co-head of equities, data and analytics, IHS Markit.
“This will allow firms to on-board and integrate to our joint SFTR solution, while running pre-production testing to identify and remediate issues, ahead of the reporting start date in April 2020.”
Some 48 firms are committed to using the IHS Markit and Pirum Systems SFTR solution, enabling them to process securities finance data and submit it to a registered trade repository.
Among them are Vanguard and the securities lending and prime brokerage divisions of Barclays, Citi, Goldman Sachs Morgan Stanley, Royal Bank of Canada and UBS.
“This successful test result confirms we have made the right decision by entering in this partnership for the SFTR solution and we feel confident to be fully prepared for SFTR go live,” added Allan Bolk, head of securities finance, Rabobank.