ICMA updates SFTR recommendations 10 September 2020London Reporter: Natalie Turner
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The International Capital Market Association (ICMA) European Repo and Collateral Council (ERCC) has published an updated version of its recommendations for reporting under Securities Financing Transactions Regulation (SFTR).
The recent document is the fourth public edition of its kind, it was initially released on 24 February and previously updated on 30 June.
The guide is targeted at financial or non-financial counterparties to securities financing transactions (SFT), specifically repos, who have a direct reporting obligation under SFTR, as well as relevant market infrastructure providers and any other service providers that offer SFTR reporting solutions.
The aim of the recommendations is to help members interpret the regulatory reporting framework specified by the European Securities and Markets Authority (ESMA) and to set out best practice recommendations to provide additional clarity and address ambiguities in the official guidance.
According to ICMA, the updated version of the guide covers a number of new questions, as well as additions and revisions to existing recommendations, partly to reflect members’ feedback and important lessons learned since the SFTR reporting go-live on 13 July.
ICMA printed a blackline version of the guide which shows all the changes that have been made.
The association states that the document will continue to evolve and further updates can be found on its website.
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