EquiLend sets deadline for SFTR solution sign-up
06 November 2019 New York
Image: Shutterstock
EquiLend has warned prospective users of its Securities Financing Transactions Regulation (SFTR) reporting service that they must commit to its solution by 15 November in order to be fully prepared for the regulation’s go-live in April 2020.
SFTR will require banks and investment firms to report securities financing transactions to a registered trade repository for the first time.
In an email to clients, EquiLend outlined that those who miss next week’s deadline risk missing out on its “premium on-boarding experience,” which includes the attention of dedicated specialists who will coordinate front-to-back testing; detailed scenario testing; user acceptance testing; and access to the EquiLend Lab to facilitate bilateral testing.
Elsewhere in the note, EquiLend acknowledged that clients are already well underway on testing its solution.
In a separate blog post on the firm’s SFTR solution, EquiLend’s vice president of post trade, Mark Byrne, said that its SFTR build has been designed to facilitate the deployment of functionality in a modular, flexible manner, which allows client firms to build out at their own pace.
“This in turn means EquiLend is poised and ready to meet changing client needs and offer efficiency, transparency and control across an ever-expanding suite of industry-leading products and services,” he added.
SFTR will require banks and investment firms to report securities financing transactions to a registered trade repository for the first time.
In an email to clients, EquiLend outlined that those who miss next week’s deadline risk missing out on its “premium on-boarding experience,” which includes the attention of dedicated specialists who will coordinate front-to-back testing; detailed scenario testing; user acceptance testing; and access to the EquiLend Lab to facilitate bilateral testing.
Elsewhere in the note, EquiLend acknowledged that clients are already well underway on testing its solution.
In a separate blog post on the firm’s SFTR solution, EquiLend’s vice president of post trade, Mark Byrne, said that its SFTR build has been designed to facilitate the deployment of functionality in a modular, flexible manner, which allows client firms to build out at their own pace.
“This in turn means EquiLend is poised and ready to meet changing client needs and offer efficiency, transparency and control across an ever-expanding suite of industry-leading products and services,” he added.
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