About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

DTCC’s SFTR Community Swells to 160 Ahead of 2020 Deadline

Subscribe to our newsletter

A total of 138 clients have signed up to adopt, and more than 30 vendors have partnered with, the Global Trade Repository (GTR) service post-trade market infrastructure provider DTCC, in order to meet their regulatory obligations under the forthcoming European Securities Financing Transactions Regulation (SFTR).

SFTR is expected to take effect for banks and broker-dealers in April, for exchanges and CCPs in July, and for buy-side firms in October this year, followed by non-financial counterparties in January 2021. There have been concerns about delays and a lack of guidance from the regulator, with testing only lately getting underway from many vendors. However, DTCC has been in the vanguard, opening its industry-wide user-acceptance testing (UAT) for SFTR last October so that clients could benefit from an extended period of testing, increasing their levels of preparedness for regulatory compliance on day one. Since then, additional phases have rolled out including UAT with final XML schemas and validations rules.

In 2019, the firm added Barclays, Goldman Sachs, J.P. Morgan, SEB and Societe Generale as some of its first clients on the SFTR platform – and in last week it confirmed that Citadel, Franklin Templeton, Nordea Investment Management and PIMCO had also joined the community.

“There are now only two months to go until the implementation of SFTR begins for the broker-dealer community and eight months until the compliance date for the buy-side,” says Val Wotton, Managing Director of Product Development & Strategy for RDS at DTCC. “Broker-dealers have made good progress in their readiness for SFTR implementation and our goal is to help support asset managers as they look to do the same.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Best practice approaches to trade surveillance for market abuse

Breaches of market abuse regulation can lead to reputational damage, eye-watering fines and, ultimately, custodial sentences of up to 10 years. Internally, market abuse triggers scrutiny of traders and trading behaviours; externally it can undermine confidence in markets and cause financial instability. This webinar will discuss market abuse of different types, such as insider trading...

BLOG

Regulated Firms that Don’t Trust Electronic Identification Verification Risk Financial Crime

More than 36% of people in regulated firms who ‘can’t trust’ electronic identity verification technology and instead rely on manual checks are leaving their doors open to financial crime, according to research by anti-money laundering specialist SmartSearch. This statistic, from SmartSearch’s 2023 annual survey of 500 compliance stakeholders across financial, accountancy, property and legal services,...

EVENT

Buy AND Build: The Future of Capital Markets Technology, London

Buy AND Build: The Future of Capital Markets Technology London on September 19th at Marriott Hotel Canary Wharf London examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Regulatory Data Handbook 2020/2021 – Eighth Edition

This eighth edition of A-Team Group’s Regulatory Data Handbook is a ‘must-have’ for capital markets participants during this period of unprecedented change. Available free of charge, it profiles every regulation that impacts capital markets data management practices giving you: A detailed overview of each regulation with key dates, data and data management implications, links to...