DTCC will provide a seamless end-to-end SFTR solution through GTR’s registered, licensed trade repositories with optional pre- and post-trade reporting services offered through the DTCC Report Hub.
When the Securities Financing Transactions Regulation (SFTR) is implemented, European Union (EU)-based firms (including their non-EU-based branches) and non-EU-based firms (where the transaction is executed by an EU-based branch) will be obligated to report their securities financing transactions (SFTs) to an authorized trade repository.
Once authorized as trade repositories for SFT reporting in both the EU and UK, DTCC’s Global Trade Repository service (GTR), delivered through DTCC Derivatives Repository Plc (“DDRL”) and DTCC Data Repository (Ireland) (“DDRIE”), will help clients meet their SFTR reporting obligations.
DTCC's One-Stop Solution
Leveraging the GTR infrastructure, our 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.
The DTCC Report Hub offers a customizable suite of services that automate the complex data and operational requirements of SFT reporting, eliminating the need for users to build in-house data transformation, third-party access, exception management and related capabilities. Clients can create a customized package of DTCC Report Hub services, utilizing those that meet their individual firm needs.
The approval of the regulatory technical standards (RTS) by the European Commission for SFTR in December 2018 kicked off the countdown to the April 2020 compliance date. As you start to prepare, we urge you to take a more strategic approach to addressing the SFTR requirements, rather than viewing them as a compliance exercise. In doing so, you will have an opportunity to gain wider advantages such as increased levels of pre-trade matching, reduced trade fails and greater collateral efficiencies, which will result in significant benefits such as balance sheet optimization.
Features & Benefits
Our one-stop SFTR solution offers you:
- All reports SFTP if required
- UAT tools
- Delegated / assisted reporting
- Simple onboarding
- Simple management of delegated permissions
- Industry scripted and coordinated UAT
- Data access for Fund Managers
- Data enrichment services
- Data insights including industry and regional benchmarking
- Data translation services (any submitted format)
- Books and records reconciliation services
- Consulting services
- Extensive partner network
The DTCC Report Hub, operated by DTCC Solutions LLC, is a suite of “a la carte” pre- and post-reporting services designed to simplify the numerous activities needed to prepare trade data for submission to a trade repository, repair rejected submissions and facilitate data sharing with key third-parties. Xceptor, a leader in data-centric intelligent automation services, automates these functions and performs them within the DTCC environment, eliminating the need for users to build these data capabilities in-house.
All DTCC Report Hub services are optional and clients can choose the ones that meet their needs.
On-site implementation services and consulting services are also available to help you seamlessly get up and running.
Enhanced Global Portal
Our new and innovative global portal is designed to enrich the user experience by providing clients with direct electronic access to data stored in GTR. With this new and easy-to-use interface, clients can better control the content, number of and frequency of reports produced.
Extensive Partner Network
Optimize how you can use your existing service providers to connect to GTR. Benefit from increased levels of automation from point of trade through to data enrichment and reporting in an ISO 20022 standard.
Partner firms include:
- FIS Global
- IHS Markit-Pirum
- RegTek Solutions
Comprehensive Global Client Service and Support
Our team of SFTR subject matter experts are here to support you. From a simple onboarding process, to early pre-user acceptance testing (UAT), access to a fully functional user acceptance environment, testing tools and 24 x 7 production support, our implementation package allows you, at no additional charge, to move seamlessly into production with confidence that you are compliance ready.
Testing with Confidence
DTCC’s SFTR simulator is a pre-user acceptance testing (UAT) tool that helps clients evaluate their readiness for SFTR by alerting them to errors in their data submissions. Via an easy-to-use, web-based application, clients will receive instant validation so that they can conduct data accuracy and gap analysis ahead of formal industry UAT and compliance go-live date. With our SFTR Simulator you can:
- Evaluate your data against the regulator’s technical standards (RTS).
- Resolve issues early as the analysis will enable you to identify and resolve errors and gaps.
- Get the support you need from our SFTR experts who will guide you through the onboarding and technical training process.
- Be ready to report as our world-class client service team continues to support you throughout your DTCC journey.
DTCC’s full industry UAT delivery will include:
- High level test scenarios across all products and action types (Multiple cycles to be executed on pre-agreed dates with periods of time assigned to analyzing the test results).
- Detailed level prescriptive test cases and testing across industry (Single sided / dual sided (delegated reporting) / inter TR reconciliation / negative testing).
- Client Test Entry Criteria (client onboarding, client connectivity, client engagement teams, client date approvals, etc.).
- Define testing engagement strategy (manage test case executions, analyze test results and diagnostics, manage exceptions).
- Execution Statues (DTCC will define how it will assign test cycle success / failure statuses).
- Client Test Exit Criteria (test completion rates, exceptions leading to early termination of testing etc.).
Here to Support You
Clients come first now and post go-live. We are committed to supporting, advocating and providing solutions to make reporting easier for you. DTCC:
- Listens and responds to your needs via 1:1 outreach and frequent client surveys.
- Keeps you informed with the latest information on industry developments.
- Connects the industry with regulators by monitoring regulatory developments and providing consultation on the drafting of regulation and advocacy for industry interests. Our experienced Government Relations team includes staff in Washington DC, London, Brussels and Hong Kong.
- Partners with the Consortium for Service Innovation, an organization focused on innovation and excellence in client service.
- Provides 24/7 call support.
- Offers ongoing training & learning resources.
Client Training & Learning
Our team of SFTR subject-matter-experts and skilled trainers are here to help you prepare for SFTR through:
- UAT and production FAQs
- Live webinars (instructor-led client training)
- SFTR workshop certification (classroom-based half day training)
- Self-paced user training certification (online SFTR certification curriculum)
- Template video tutorial (learn how to use the template to configure your own XML message
For More Information
To request additional information, please click here.