REGIS-TR, the pan-European specialist in G20 trade repository services has just announced that it will collaborate with IHS Markit (NASDAQ:INFO), a critical information, analytics and solutions company, to provide a full service reporting solution for Securities Finance Transaction Regulation (SFTR) requirements.
IHS Markit recently announced that BNY Mellon, Brown Brothers Harriman, Deutsche Bank Agency Lending, eSecLending, J.P. Morgan and Rabobank have signed on as design partners for the SFTR reporting solution that it is building with Pirum Systems. Each member of the initial design group will contribute their requirements and market expertise to ensure the fully-hosted, end-to-end reporting framework suits the diverse needs of the securities lending and repo communities.
Irene Mermigidis, Managing Director, REGIS-TR said:
IHS Markit is working with industry leaders to design an SFTR reporting solution that can ease the complexity of routing data to trade repositories. Their data management and augmentation service, 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 IHS Markit on this initiative.
Pierre Khemdoudi, managing director of Securities Finance, IHS Markit, added:
I’m obviously delighted to be collaborating with REGIS-TR for our SFTR reporting solution. Trade repositories will deliver the crucial final step of our end-to-end reporting solution; having REGIS-TR, one of Europe’s largest trade repositories with established pedigree in the SFT space, collaborate with us at such an early stage will be a major asset to our solution’s user base, ensuring that we live up to our goal of delivering a seamless, fully interoperable solution.
SFTR requires EU counterparties to report their securities finance transaction details to a registered trade repository. IHS Markit’s SFTR reporting solution will combine its leading data handling and management capabilities with REGIS-TR’s expertise as one of Europe’s largest EMIR trade repositories. Together, the firms will offer a fully-hosted solution that leverages existing industry data workflows to lower the cost and operational burden of SFTR.