Delta Capita, Pirum Systems and IHS Markit are collaborating with an industry testing consortium to help firms meet Securities Financing Transactions Regulation (SFTR) requirements.
In a recent announcement, Delta Capita revealed the creation of a consortium of banks to establish a standardised SFTR industry test pack.
Under this collaboration with Pirum and IHS Markit, Delta Capita will make the test pack available to IHS Markit and Pirum to support testing and provide feedback to the consortium.
According to Delta Capita, customers of the joint IHS Markit and Pirum SFTR solution who have independently licensed the consortium test pack will benefit from knowing the service and potentially reduce their own testing efforts and costs.
David Field, head of the securities finance practice, Delta Capita, said: “The test pack will
provide full traceability to the RTS/ITS, European Securities Markets Authority guidance and industry best practices across repo, BSB and stock borrow/loan.”
“It will provide users with the test data, test scripts and expected results they need to conduct their UAT and to test with their counterparts, trading venues, service providers, central counterparties, tri-party agents and trade repositories.”
He continued: “Consortium members will be able to benchmark their testing run rates and pass rates to highlight areas of concern for review and remediation.”
Rajen Sheth, CEO, Pirum Systems, cited: “We’re pleased to be able to support our clients to leverage the testing consortium in order to bring efficiencies to participants as they work towards meeting their SFTR reporting obligation.”
Pierre Khemdoudi, managing director and global co-head of equities, data and analytics, IHS
Markit, added: “The securities finance industry will greatly benefit from the standardisation of
testing as we continue implementing technology for SFTR reporting.”
“By integrating Delta Capita’s testing within our SFTR solution, our common clients will be able to move forward with no additional effort, while being assured on the accuracy of the reporting.”
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