DTCC’s Global Trade Repository (GTR) service offers a SFTR solution for the global securities finance industry
News follows a similar announcement from Societe Generale
FIA International Derivatives Expo (FIA-IDX), London, June 4, 2019 ‒ The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that Barclays, Goldman Sachs and J.P. Morgan will use DTCC's multi-award winning Global Trade Repository (GTR) service, offered by its Repository and Derivatives (RDS) division, in order to meet their regulatory obligations under the European Securities Financing Transactions Regulation (SFTR), which are anticipated to take effect in April 2020.
"DTCC is committed to serving clients, and creating opportunities to protect the stability and integrity of the global financial system – such as readying the industry for regulatory mandates, including SFTR," said Val Wotton, Managing Director, Product Development & Strategy, Repository and Derivatives Services & Collateral Management at DTCC. "Barclays, Goldman Sachs and J.P. Morgan are valued clients, and we're delighted to be working with them in the securities financing arena to achieve the transparency and risk mitigation that the G20 intended."
Leveraging the GTR infrastructure, DTCC's solution supports all product types to be reported under SFTR, including repo and reverse repo, securities and commodities lending and borrowing, sell/buy-back, buy/sell-back and margin lending and borrowing. In addition to supporting the core trade repository requirements, our value-added services, such as data transformation tools and consulting services, allow DTCC to offer a solution for SFTR. DTCC's GTR now supports EMIR, FinfraG and SFTR regulations from a single global platform through its London-based registered trade repository.
With over 45 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From operating facilities, data centers and offices in 16 countries, DTCC, through its subsidiaries, automates, centralizes and standardizes the processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management, data reporting and information services across asset classes, bringing increased security and soundness to financial markets. In 2018, DTCC's subsidiaries processed securities transactions valued at more than U.S. $1.85 quadrillion. Its depository provides custody and asset servicing for securities issues from 170 countries and territories valued at U.S. $52.2 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes over 14 billion messages annually. To learn more, please visit us at www.dtcc.com or connect with us on LinkedIn, Twitter, YouTube and Facebook.