EquiLend and Trax partner for SFTR solution
20 September 2017 London
Image: Shutterstock
Trax and EquiLend are joining forces to tackle the Securities Financing Transactions Regulation's (SFTR's) reporting requirements with a full front-to-back solution for mutual clients.
EquiLend will link its trading and post-trade platform to the Trax system to provide client trading and life cycle event information, while Trax will provide EquiLend clients with data enrichment, reporting services and access to multiple trade repositories.
Trax’s cross-asset class regulatory reporting technology and repo trade confirmation capabilities promises to enable firms to enrich, validate and report eligible SFTR transactions in near real-time.
Meanwhile, EquiLend captures many key elements required for SFTR reporting at point of trade, including unique transaction identifiers (UTI), transaction timestamps and lifecycle events.
According to EquiLend, its expertise in the securities finance industry combined with Trax’s regulatory reporting and repo trade confirmation heritage will result in a comprehensive service covering all SFTR-eligible asset classes.
Brian Lamb, CEO of EquiLend, said: “SFTR is one of the most complex and data-intensive regulatory reporting requirements the European securities finance market has ever seen.”
“This collaboration between EquiLend and Trax streamlines the process, offering mutual clients the simplest and most comprehensive front-to-back SFTR solution available.”
Christophe Roupie, head of Europe and Asia for MarketAxess and Trax, added: “The manual nature and multitude of actors involved in the securities financing trade lifecycle, in addition to the immense data requirements of SFTR, means that the industry needs more sophisticated data management and operational processes in place.”
“Leveraging the expertise and technical capacity between Trax and EquiLend will be key for firms to effectively manage their regulatory obligations under SFTR.”
EquiLend will link its trading and post-trade platform to the Trax system to provide client trading and life cycle event information, while Trax will provide EquiLend clients with data enrichment, reporting services and access to multiple trade repositories.
Trax’s cross-asset class regulatory reporting technology and repo trade confirmation capabilities promises to enable firms to enrich, validate and report eligible SFTR transactions in near real-time.
Meanwhile, EquiLend captures many key elements required for SFTR reporting at point of trade, including unique transaction identifiers (UTI), transaction timestamps and lifecycle events.
According to EquiLend, its expertise in the securities finance industry combined with Trax’s regulatory reporting and repo trade confirmation heritage will result in a comprehensive service covering all SFTR-eligible asset classes.
Brian Lamb, CEO of EquiLend, said: “SFTR is one of the most complex and data-intensive regulatory reporting requirements the European securities finance market has ever seen.”
“This collaboration between EquiLend and Trax streamlines the process, offering mutual clients the simplest and most comprehensive front-to-back SFTR solution available.”
Christophe Roupie, head of Europe and Asia for MarketAxess and Trax, added: “The manual nature and multitude of actors involved in the securities financing trade lifecycle, in addition to the immense data requirements of SFTR, means that the industry needs more sophisticated data management and operational processes in place.”
“Leveraging the expertise and technical capacity between Trax and EquiLend will be key for firms to effectively manage their regulatory obligations under SFTR.”
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