GLMX join UnaVista partner programme
11 March 2020 New York
Image: Shutterstock
GLMX, the comprehensive technology solution for the trading of securities financing transactions which is headquartered in New York, has teamed up with UnaVista’s partner programme to simplify Securities Financing Transaction Regulation (SFTR) reporting requirements for market participants.
The new regulation which is set to come into play in April 2020, is designed to increase transparency in repo markets but presents a complex reporting challenge for firms. GLMX connects directly to the trade repository on behalf of clients, streamlining the demand of the SFTR reporting process and enabling firms to fulfil regulatory obligations.
Some 25 independent software vendors (ISVs) within UnaVista’s partner programme are now looking to include SFTR services as part of their offering to clients. Partner firms include Calypso Technology, Equilend, IHS Markit, MarketAxess, Message Automation and Murex S.A.S.
“With the rollout of SFTR starting next month, firms need to prepare to meet their reporting obligations,” said Michael Leach, managing director of global business development at UnaVista. He added, “Our collaboration with GLMX simplifies how their clients’ data is routed to UnaVista, helping to ensure that securities financing transactions are reported accurately and efficiently.”
“The digitisation of repo transactions and associated data is a prerequisite for effective SFTR reporting, which is accelerating the shift towards electronic trading for securities financing transactions,” said Phil Buck, managing director, Europe, GLMX.
The new regulation which is set to come into play in April 2020, is designed to increase transparency in repo markets but presents a complex reporting challenge for firms. GLMX connects directly to the trade repository on behalf of clients, streamlining the demand of the SFTR reporting process and enabling firms to fulfil regulatory obligations.
Some 25 independent software vendors (ISVs) within UnaVista’s partner programme are now looking to include SFTR services as part of their offering to clients. Partner firms include Calypso Technology, Equilend, IHS Markit, MarketAxess, Message Automation and Murex S.A.S.
“With the rollout of SFTR starting next month, firms need to prepare to meet their reporting obligations,” said Michael Leach, managing director of global business development at UnaVista. He added, “Our collaboration with GLMX simplifies how their clients’ data is routed to UnaVista, helping to ensure that securities financing transactions are reported accurately and efficiently.”
“The digitisation of repo transactions and associated data is a prerequisite for effective SFTR reporting, which is accelerating the shift towards electronic trading for securities financing transactions,” said Phil Buck, managing director, Europe, GLMX.
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