Securities Financing Transaction Regulation(SFTR)
Coming into force on 11th April 2019, SFTR mandates reporting of all SFTs to TRs. TRs centrally collect and maintain the records of SFTs. Reporting requirements apply at various dates, depending on the type of financial counter-party involved. Credit institutions and investment firms will be required to comply within 12 months for Central Counter-parties (CCPs) and 15 months for Central Securities Depositories (CSDs), while all other financial institutions, including Pension Funds, Insurance/Reinsurance Companies, AIFs and UCITs, will have 18 months to comply. Non-Financial Counter-parties will have 21 months.
How Can Virtusa Help?
Virtusa’s Trade Repository Reporting (TRR) solution is a fully automated cloud native reporting tool gathering all the data in a single location available with one login. Using agile principles, the SaaS solution is SFTR-ready and has been continuously evolved in order to correspond to the reporting requirements of the volatile regulatory environment.
Compliance with the SFTR reporting requirements will present a number of operational and data challenges, so organizations should take measures to test and adopt reporting solutions for SFTs as soon as possible.
How Can Virtusa Help?
Virtusa’s Trade Repository Reporting (TRR) solution is a fully automated cloud native reporting tool gathering all the data in a single location available with one login. Using agile principles, the SaaS solution is SFTR-ready and has been continuously evolved in order to correspond to the reporting requirements of the volatile regulatory environment.