SFTR Reporting
The Securities Financing Transactions Regulation (SFTR) is an extensive set of reporting requirements from ESMA and the UK’s FCA.
SFTR aims to improve transparency and reduce risks in securities financing markets; namely the repo, securities lending, buy-sellback and margin lending (prime brokerage) markets.
What are the requirements of SFTR reporting?
Firms trading securities financing products (financial and non-financial) must report details of all securities financing transactions to regulators via a trade repository.
The requirements of SFTR incorporate the following:
- Up to 155 fields to report depending on product
- Counterparty, loan & collateral, margin & re-use tables to populate
- Nine reportable action types
- Up to 48 fields reconcilable for pairing & matching on day one, increasing to 74 after two years
- Common standards (ISIN, LEI, UTI, CFI) plus extensive classification field requirements
- Identification of beneficial owners
- Reconciliation sensitivity around execution timestamps.
How we can help
Our ReportShield™ quality assurance services have been designed to meet the requirements of Article 4 and include Accuracy Testing of every SFTR report, testing and mapping of all reference data, plus testing that all delegated reporting has been reported accurately and completely.
Accuracy Testing
The testing gold standard, providing the maximum level of protection against regulatory challenge. Learn more
Completeness Controls
Our Completeness Controls tool provides comprehensive, independent end-to-end reconciliation Learn more
Control Framework
Together with data quality, a robust control framework is a key expectation of regulators. Learn more
SFTR Training
Training is an integral part of the systems and controls required for accurate reporting. Learn more
Kaizen resources
- SFTR Reporting Core Training Courses
- ESMA’s SFTR Data Quality Indicators: Progress with Limitations
- ESMA’s Data Quality Report 2024: Increased Focus on Data Quality
- Delegated Reporting: The Danger of ‘Out of Sight, Out of Mind’ Reporting
- How-to Guide: SFTR Repo Day-Count Conventions
- SFTR insights and blogs.
External resources
- Regulation
- RTS and ITS
- Standards and Processes for Global Securities Financing Data Collection and Aggregation
- XML Schemas (November 2019)
- XML Schemas (applicable from 11/09/2023)
- Guidelines (March 2021)
- Final Report (Guidelines Consultation Feedback)
- Statement on non-EU issuer LEIs
- ESMA Statement on Brexit EMIR and SFTR data
- ESMA Q&A (June 2023)
- ESMA Validation Rules (March 2023)
- FCA Validation Rules (April 2022)
- FCA SFTR News (includes draft validation rules and schemas)
Is your SFTR Reporting accurate, complete and timely?
For a free healthcheck of your reported data, or a conversation with one of our regulatory specialists, please get in touch.
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