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A-Team Insight Blogs

SmartStream RDU Launches API to Get Firms Over the SFTR Finish Line

Transaction Lifecycle Management specialist SmartStream has extended its Reference Data Utility (RDU) SFTR service to include a new API targeting firms who need fast access to the technology and data needed need to meet ESMA’s delayed SFTR reporting deadline of July 13.

The API gives access to new tools to validate reference data content during the final weeks of testing before the regulatory deadline – whether that involves filling data gaps, resolving exceptions, not having full issuer to ISIN LEI coverage, or helping firms to avoid counterparty breaks and rejected reports. With an onboarding process of less than 24 hours. It can be integrated as a value-added service to an established solution, or launched as a new control framework specifically targeted at reference data for SFTR obligations.

“In response to the adverse developments resulting from the Coronavirus outbreak, ESMA made the bold decision to postpone the original deadline for the SFTR reporting obligations. Despite having an additional three-month window to prepare, we have found that many firms need extra help to get them across the finish line,” notes Linda Coffman, EVP at SmartStream RDU. “We understand the pressures of meeting regulatory obligations, and we are providing easily accessible technology which focusses on key SFTR reference data attributes.”

The reference data used by the SFTR service is acquired by the SmartStream RDU from a broad range of industry sources, before being normalised, enriched and mapped, on a single platform, into the format required by the regulator.

 

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