Denmark’s largest public pension fund joins SimCorp SFTR platform
19 January 2021 UK
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Denmark’s largest public pension fund ATP has gone live on SimCorp’s Securities Financing Transactions Regulation (SFTR) solution.
As a public pension fund, ATP joined the platform in-line with the go-live of the fourth phase of SFTR on 11 January which brought non-financial counterparties into scope.
SimCorp is now supporting ATP with reporting for repos and buy sell-backs, triparty repo collateral managed by Euroclear, and collateral reinvestment.
With fluid integration to Euroclear’s assisted reporting service for triparty collateral, ATP can automatically submit SFTR reports across their full security financing business, without manual interventions, according to SimCorp.
SimCorp says its SFTR reporting solution is designed to offer buy-side clients a flexible and integrated solution for transaction reporting.
The platform also offers clients support for the on-shored UK SFTR regime reporting, enabling them to report automatically and seamlessly in both jurisdictions, the UK and the EU, SimCorp adds.
ATP joins German asset manager Ampega and PGGM, one of Europe’s large pension fund service providers, as a user of the SFTR platform.
Both have transitioned to the cloud-based regulatory reporting platform and automated reporting to their chosen trade repository.
Gernot Schmidt, product manager for regulatory solutions at SimCorp, says: “We are pleased to welcome ATP and Ampega to a growing number of buy-side firms choosing SimCorp’s regulatory reporting platform.
“By delivering the solution through a highly automated and consolidated platform, we were able to accommodate our client’s specific needs around the complex areas of triparty collateral data and re-use. From early on, the industry understood the data challenges that SFTR would bring and we designed our solution to offer flexibility for sourcing the data, without needing to redesign established operational processes”.
Schmidt adds that SimCorp is primed to adapt its platform to any further divergence between the UK and EU version of SFTR, which has already parted ways on the inclusion of non-financial counterparties.
Barry Vrijssen, manager operations at PGGM, adds: “Having worked with SimCorp for a number of years, including on regulatory support for both European Market Infrastructure Regulation and Markets in Financial Instruments Regulation, we knew when SFTR came along, that it made sense to have one source of data for both reporting and operational workflows.
“SimCorp’s consolidated approach, integrated Investment Book of Record (IBOR), market-standard solution and ability to customise to our unique needs, have been critical to our success.”
According to SimCorp, its SFTR solution has integrated IBOR to deliver one source of seamless and unified data, meaning its clients benefit from the same highly-automated daily report processes they have in place for investment and collateral operations.
As a public pension fund, ATP joined the platform in-line with the go-live of the fourth phase of SFTR on 11 January which brought non-financial counterparties into scope.
SimCorp is now supporting ATP with reporting for repos and buy sell-backs, triparty repo collateral managed by Euroclear, and collateral reinvestment.
With fluid integration to Euroclear’s assisted reporting service for triparty collateral, ATP can automatically submit SFTR reports across their full security financing business, without manual interventions, according to SimCorp.
SimCorp says its SFTR reporting solution is designed to offer buy-side clients a flexible and integrated solution for transaction reporting.
The platform also offers clients support for the on-shored UK SFTR regime reporting, enabling them to report automatically and seamlessly in both jurisdictions, the UK and the EU, SimCorp adds.
ATP joins German asset manager Ampega and PGGM, one of Europe’s large pension fund service providers, as a user of the SFTR platform.
Both have transitioned to the cloud-based regulatory reporting platform and automated reporting to their chosen trade repository.
Gernot Schmidt, product manager for regulatory solutions at SimCorp, says: “We are pleased to welcome ATP and Ampega to a growing number of buy-side firms choosing SimCorp’s regulatory reporting platform.
“By delivering the solution through a highly automated and consolidated platform, we were able to accommodate our client’s specific needs around the complex areas of triparty collateral data and re-use. From early on, the industry understood the data challenges that SFTR would bring and we designed our solution to offer flexibility for sourcing the data, without needing to redesign established operational processes”.
Schmidt adds that SimCorp is primed to adapt its platform to any further divergence between the UK and EU version of SFTR, which has already parted ways on the inclusion of non-financial counterparties.
Barry Vrijssen, manager operations at PGGM, adds: “Having worked with SimCorp for a number of years, including on regulatory support for both European Market Infrastructure Regulation and Markets in Financial Instruments Regulation, we knew when SFTR came along, that it made sense to have one source of data for both reporting and operational workflows.
“SimCorp’s consolidated approach, integrated Investment Book of Record (IBOR), market-standard solution and ability to customise to our unique needs, have been critical to our success.”
According to SimCorp, its SFTR solution has integrated IBOR to deliver one source of seamless and unified data, meaning its clients benefit from the same highly-automated daily report processes they have in place for investment and collateral operations.
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