Delta Capita collaborates with DTCC to support buy-side firms’ SFTR testing
19 May 2020 London
Image: AimPix/Shutterstock.com
Delta Capita, the international business and technology consulting and managed services firm, has extended its collaboration with the Depository Trust & Clearing Corporation (DTCC) to help market participants meet their Securities Financing Transactions Regulation (SFTR) trade reporting requirements.
Buy-side firms will be required to report SFTs from 12 October as part of the third implementation phase of SFTR.
Through the collaboration, clients of DTCC’s Global Trade Repository (GTR) service for SFTR will be able to directly leverage Delta Capita’s buy-side data test pack, in order to streamline the testing process, says Delta Capita.
The test pack has been developed with a consortium of banks and agent lenders and is now available for asset managers, hedge funds and other buy-side firms for their SFTR testing.
Clients of DTCC’s GTR service who license the test pack will have access to SFT life-cycle event test scenarios, including the expected results, to help identify issues and accelerate testing ahead of SFTR go live.
The pack comes with an online traceability module – linking SFTR test cases to the regulatory and industry technical standards, European Securities and Markets Authority (ESMA) rules and industry best practice.
Firms can also benchmark their testing progress within their peer group.
David Field, head of the securities finance practice at Delta Capita, says: “Firms using the test pack will benefit from an enhanced testing data set, reducing testing effort, so testing is faster and less expensive, but at the same time, more robust.”
Valentino Wotton, managing director, product development and strategy, repository and derivatives services at DTCC, adds: “As buy-side firms progress with preparations in order to meet forthcoming SFTR trade reporting requirements, testing will be an important milestone.”
DTCC and Delta Capita first collaborated in 2018 with the publication of an SFTR industry paper, ‘Addressing the Industry Impacts of SFTR’.
In 2019, DTCC worked with Delta Capita’s banking consortium, providing DTCC Report Hub services in order to transform Delta Capita’s SFTR reporting data into the ESMA-required ISO 200022 XML format.
Delta Capita also joined DTCC’s Partner Program as a Strategic Partner in May.
Other entities utilising Delta Capita’s SFTR test pack includes UnaVista, part of the London Stock Exchange Group, which began offering the resources to its buy-side clients from last month.
Buy-side firms will be required to report SFTs from 12 October as part of the third implementation phase of SFTR.
Through the collaboration, clients of DTCC’s Global Trade Repository (GTR) service for SFTR will be able to directly leverage Delta Capita’s buy-side data test pack, in order to streamline the testing process, says Delta Capita.
The test pack has been developed with a consortium of banks and agent lenders and is now available for asset managers, hedge funds and other buy-side firms for their SFTR testing.
Clients of DTCC’s GTR service who license the test pack will have access to SFT life-cycle event test scenarios, including the expected results, to help identify issues and accelerate testing ahead of SFTR go live.
The pack comes with an online traceability module – linking SFTR test cases to the regulatory and industry technical standards, European Securities and Markets Authority (ESMA) rules and industry best practice.
Firms can also benchmark their testing progress within their peer group.
David Field, head of the securities finance practice at Delta Capita, says: “Firms using the test pack will benefit from an enhanced testing data set, reducing testing effort, so testing is faster and less expensive, but at the same time, more robust.”
Valentino Wotton, managing director, product development and strategy, repository and derivatives services at DTCC, adds: “As buy-side firms progress with preparations in order to meet forthcoming SFTR trade reporting requirements, testing will be an important milestone.”
DTCC and Delta Capita first collaborated in 2018 with the publication of an SFTR industry paper, ‘Addressing the Industry Impacts of SFTR’.
In 2019, DTCC worked with Delta Capita’s banking consortium, providing DTCC Report Hub services in order to transform Delta Capita’s SFTR reporting data into the ESMA-required ISO 200022 XML format.
Delta Capita also joined DTCC’s Partner Program as a Strategic Partner in May.
Other entities utilising Delta Capita’s SFTR test pack includes UnaVista, part of the London Stock Exchange Group, which began offering the resources to its buy-side clients from last month.
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