LCH Group picks Unavista for SFTR reporting
May 20, 2019

Speed read: UnaVista customers clearing through LCH's RepoClear will be offered assisted reporting for SFTR. RepoClear is Europe's leading clearer of repos, EUR 197 trillion cleared in 2018 across 13 government bond markets. UnaVista is one of Europe's largest regulatory reporting platforms for MiFIR and EMIR compliance. SFTR scheduled to be implemented in April 2020 will introduce new reporting obligations for firms.

UnaVista has announced that it has been selected by LCH's RepoClear as its trade repository to meet their reporting obligations under the Securities Financing Transaction Regulation (SFTR). LCH Group's Collateral and Liquidity Management function will also be using UnaVista for its SFTR reporting.

SFTR is scheduled to go live in April next year and will require firms to report details of their Securities Financing Transactions (SFTs) to an approved trade repository. Known as the MiFID II (markets in financial instruments directive II) for repo, the regulation is designed to increase transparency, allowing regulatory authorities to assess the risks associated with these transactions. LCH provides Europe's leading clearing service for government bond and repo markets, with 197 trillion cleared across the group in 2018.

UnaVista says the agreement will enable it to offer a form of collaborative reporting called assisted reporting to LCH's RepoClear members. RepoClear members will have the option to allow UnaVista to flip aspects of LCH's transaction and margin reporting to create a report from the member's perspective. This function will offer significant operational efficiencies and supports accurate transaction matching, says UnaVista.

Bruce Kellaway, Global Head of RepoClear & Collateral, Head of EquityClear Ltd said: "UnaVista is one of Europe's largest regulatory reporting platforms for MiFIR and EMIR compliance and its significant experience in this field makes it a natural fit for RepoClear. As a result of this project with UnaVista, RepoClear's members are now presented the additional option of assisted reporting to handle and simplify their SFTR requirements for those trades they clear through LCH."

SFTR covers SFTs conducted by any firms established in the EU, regardless of where the individual branch is. It will also include SFTs conducted by EU branches of non-EU firms, and any SFT where the securities used are issued by an EU issuer or by an EU branch of a firm. The proposal also explicitly identifies UCITS funds and AIFM funds as being subject to SFTR.

Over the course of the next year LCH and UnaVista say they will be working together to educate market participants on how to simplify their SFT reporting through hosting a series of webinars and working groups.





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Speed read: UnaVista customers clearing through LCH's RepoClear will be offered assisted reporting for SFTR. RepoClear is Europe's leading clearer of repos, EUR 197 trillion cleared in 2018 across 13 government bond markets. UnaVista is one of Europe's largest regulatory reporting platforms for MiFIR and EMIR compliance. SFTR scheduled to be implemented in April 2020 will introduce new reporting obligations for firms.

UnaVista has announced that it has been selected by LCH's RepoClear as its trade repository to meet their reporting obligations under the Securities Financing Transaction Regulation (SFTR). LCH Group's Collateral and Liquidity Management function will also be using UnaVista for its SFTR reporting.

SFTR is scheduled to go live in April next year and will require firms to report details of their Securities Financing Transactions (SFTs) to an approved trade repository. Known as the MiFID II (markets in financial instruments directive II) for repo, the regulation is designed to increase transparency, allowing regulatory authorities to assess the risks associated with these transactions. LCH provides Europe's leading clearing service for government bond and repo markets, with 197 trillion cleared across the group in 2018.

UnaVista says the agreement will enable it to offer a form of collaborative reporting called assisted reporting to LCH's RepoClear members. RepoClear members will have the option to allow UnaVista to flip aspects of LCH's transaction and margin reporting to create a report from the member's perspective. This function will offer significant operational efficiencies and supports accurate transaction matching, says UnaVista.

Bruce Kellaway, Global Head of RepoClear & Collateral, Head of EquityClear Ltd said: "UnaVista is one of Europe's largest regulatory reporting platforms for MiFIR and EMIR compliance and its significant experience in this field makes it a natural fit for RepoClear. As a result of this project with UnaVista, RepoClear's members are now presented the additional option of assisted reporting to handle and simplify their SFTR requirements for those trades they clear through LCH."

SFTR covers SFTs conducted by any firms established in the EU, regardless of where the individual branch is. It will also include SFTs conducted by EU branches of non-EU firms, and any SFT where the securities used are issued by an EU issuer or by an EU branch of a firm. The proposal also explicitly identifies UCITS funds and AIFM funds as being subject to SFTR.

Over the course of the next year LCH and UnaVista say they will be working together to educate market participants on how to simplify their SFT reporting through hosting a series of webinars and working groups.



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