ISLA CEO: SFTR at a very pivotal point
09 April 2018 London
Image: Shutterstock
Securities Financing Transactions Regulation (SFTR) is at “a very pivotal point”, according to Andy Dyson, CEO of the International Securities Lending Association (ISLA), in a video message released on the association’s website.
Dyson said: “We are currently waiting for the [European] Commission to start the formal adoption of the technical standards that were published by the European Securities and Markets Authority (ESMA) in March 2017.”
“However, in the meantime, we as an industry association together with many of our member firms, have been very active looking at the data specifications for SFTR and also working closely with a number of vendors and member firms around things like unique transaction identifier (UTI) generation”, he added.
He also stated that a “concerted and consistent approach” was needed in dealing with data and certain attributes around the process associated with SFTR, as, he said, “this will make the implementation much smoother for ISLA members and the broader market”.
He further commented that ISLA would be devoting “quite a lot of [its] time to the subject at [its] forthcoming conference in June this year”.
Dyson said the main focus areas of the conference, which will take place in Lisbon, will be “connectivity, data aggregation and matching services, as well as the roles of the trade repositories in the overall trade flow”.
He concluded: “As we think about where we might go with this in the next six to 12 months, we believe that it is all about working together, and being prepared as we begin to see what the final technical standards look like, which we hope will be published in the next one to two months.”
Dyson said: “We are currently waiting for the [European] Commission to start the formal adoption of the technical standards that were published by the European Securities and Markets Authority (ESMA) in March 2017.”
“However, in the meantime, we as an industry association together with many of our member firms, have been very active looking at the data specifications for SFTR and also working closely with a number of vendors and member firms around things like unique transaction identifier (UTI) generation”, he added.
He also stated that a “concerted and consistent approach” was needed in dealing with data and certain attributes around the process associated with SFTR, as, he said, “this will make the implementation much smoother for ISLA members and the broader market”.
He further commented that ISLA would be devoting “quite a lot of [its] time to the subject at [its] forthcoming conference in June this year”.
Dyson said the main focus areas of the conference, which will take place in Lisbon, will be “connectivity, data aggregation and matching services, as well as the roles of the trade repositories in the overall trade flow”.
He concluded: “As we think about where we might go with this in the next six to 12 months, we believe that it is all about working together, and being prepared as we begin to see what the final technical standards look like, which we hope will be published in the next one to two months.”
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