MarketAxess and EquiLend kick-off SFTR testing
30 July 2019 London
Image: Shutterstock
Trax, a MarketAxess subsidiary, and EquiLend have begun user acceptance testing (UAT) with phase one go-live clients for their joint Securities Financing Transactions Regulation (SFTR) solution.
According to MarketAxess, clients are testing in a live solution environment rather than relying on mock-ups or simulation.
The live solution environment maximises clients’ ability to identify process gaps and development areas head of the SFTR deadline, MarketAxess revealed.
EquiLend and Trax teams have advised all SFTR-affected industry participants to allow at least six months for testing.
Sunil Daswani, head of business development for securities lending at MarketAxess, commented: “The SFTR implementation deadline is fast approaching, and as we get closer to it the more complex it’s requirements appear to be.”
“We’re delighted, therefore, to have our key clients already into UAT in a live environment—and we urge the broader universe of asset management and corporates out there to do the same.”
Daswani added: “What we’ve learned from preparations for other regulatory changes, such as Markets in Financial Instruments Regulation, is that there is no such thing as being too prepared or going too early.”
According to MarketAxess, clients are testing in a live solution environment rather than relying on mock-ups or simulation.
The live solution environment maximises clients’ ability to identify process gaps and development areas head of the SFTR deadline, MarketAxess revealed.
EquiLend and Trax teams have advised all SFTR-affected industry participants to allow at least six months for testing.
Sunil Daswani, head of business development for securities lending at MarketAxess, commented: “The SFTR implementation deadline is fast approaching, and as we get closer to it the more complex it’s requirements appear to be.”
“We’re delighted, therefore, to have our key clients already into UAT in a live environment—and we urge the broader universe of asset management and corporates out there to do the same.”
Daswani added: “What we’ve learned from preparations for other regulatory changes, such as Markets in Financial Instruments Regulation, is that there is no such thing as being too prepared or going too early.”
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