The deltaconX regulatory platform enables SFTR EU & UK – Securities Financing Transaction Regulation compliance in a way that helps streamline day-to-day reporting to ensure SFTR compliance.
The Securities Financing Transactions Regulation No 648/2012 (SFTR) was published in the official journal on the 25th of November 2015. It contains a disclosure and a transaction reporting element for securities financing transactions:
The technical standards were first published in March 2019 and the reporting obligation was introduced in different phases:
Although SFTR is drawn on the EMIR requirements, the reporting is even more complex as not only the transactions have to be reported, but also the Collateral Re-Use, as well as the Margin Data, posted to CCPs.
Since the United Kingdom has left the European Union on the 1st of January 2021 the Financial Conduct Authority (FCA) has implemented onshore versions of the European regulations.
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SFTR reporting requires the following information to be included:
Reports are to be submitted to an authorised Trade Repository (TRs) under SFTR.
If a transaction is entered between a financial counterparty and an NFC-*, the financial counterparty is required to report for both sides.
*An NFC- means a non-financial counterparty which does not exceed the limits of at least 2 of the 3 following criteria:
Reports are required to be submitted to an authorised TR by no later than one working day after the day the SFT has been entered into (T+1).
The deltaconX SaaS platform offers the capability to incorporate these SFTR reporting requirements into our unified and standardized workflow, which simplifies compliance by only highlighting the actual areas requiring attention.
We essentially eliminate any confusion or complexity around SFTR by ensuring that the necessary data is captured and provided as necessary.
The unified deltaconX workflow means that your attention is focused only where it’s needed so that the relevant data in OTC derivatives are captured and available to meet the reporting obligation requirements of the SFTR.
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deltaconX provides highest flexibility by supporting multiple jurisdictions within a unified platform.
Instead of using internally managed solutions that take up significant time and resources, or turning to expensive experts, deltaconX actually lessens the burden of SFTR compliance.
We eliminate the need for in-house experts completely and have simplified working with our platform by reducing manual efforts by up to 80%, so that it’s both quick and easy to make sure that everything is available to validate your OTC derivative trades.
By building expertise from across our entire data reporting chain into the platform itself, we’re also able to proactively work on of bigger shifts, changes, or even revisions to the regulations without passing the burden on to you.
With the current macroeconomic climate resulting in tighter resources and more budget scarcity, deltaconX can help by offering a simplified alternative to expensive in-house solutions.
With extensive experience in data-quality driven reporting compliance and enabling customers to make the switch from DIY compliance solutions to a Compliance as a Service model, deltaconX offers a unique opportunity to simplify your SFTR Reporting compliance burden.
Our proven platform not only simplifies today’s compliance obligations but takes the headache out of ensuring compliance as regulation changes happen.
As the regulatory reporting bodies start to move their focus away from data completeness towards data quality, remaining compliant will prove to become a bigger challenge over time.
Unlike other solutions, deltaconX can provide you with the complete picture of the cost of compliance, with an unprecedentedly clear TCO that gives you a crystal-clear insight into what the bottom line is and help project future costs.
Even though the SFTR Reporting 2024 changes are still far away, knowing exactly how much it’s going to cost to adapt to these changes has never been more important.
With deltaconX you get more than just a SaaS based solution provider, you get a long-term partner that proactively helps you reduce the burden of compliance.