The European trade repository REGIS-TR will collaborate with GLMX, a market leader in pre- and post-trade technology solutions for repurchase agreements and secured lending, to provide an interoperable, full-service reporting solution for Securities Finance Transaction Regulation (SFTR) requirements.
GLMX has been testing with REGIS-TR and market participants to design a straight-through processing reporting solution. Clients will be able to use GLMX’s pre- and post-trade platform services and then delegate their reporting to GLMX to report their securities finance transactions seamlessly to REGIS-TR under SFTR.
Nick Bruce, Head of Business Development, REGIS-TR, said: “GLMX is working with industry leaders to design an SFTR reporting solution that can ease the complexity of routing data to trade repositories. Their securities finance transaction platform expertise, data management and augmentation services, together with our flexible account model and cost-effective solution, provide market participants with a robust framework for SFTR compliance. We are delighted to be working with GLMX on this initiative.”
Phil Buck, Managing Director of Europe, GLMX, said: “SFTR will increase transparency in securities financing transactions but also presents a complex reporting challenge for market participants. Our partnership with REGIS-TR allows GLMX to connect directly to the trade repository on behalf of customers, streamlining the onerous reporting process and enabling them to fulfil their regulatory obligations.”
SFTR requires EU counterparties to report their securities finance transaction details to a registered trade repository. REGIS-TR, as one of Europe's largest trade repositories, will combine its expertise with GLMX’s SFTR reporting solution, derived from its leading technology platform and data management capabilities. Together, they will offer a hosted solution that leverages existing industry data workflows to lower cost and operational burden of SFTR.
REGIS-TR is a leading European trade repository offering reporting services covering all the major European trade repository obligations. In accordance with legislation promoting market transparency, the detail of the trades reported is aggregated to present a composite view of current positions for the benefit of regulatory authorities and market participants. REGIS-TR is open to financial and non-financial companies and institutions.
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