The world of transaction reporting.
The European Securities and Markets Authorty (ESMA), the EU’s securities markets regulator, has published updated ISO 20022 XML Schemas to be used for reporting under the Securities Financing Transactions Regulation (SFTR). Link: https://www.esma.europa.eu/press-news/esma-news/esma-updates-iso-20022-xml-schemas-sftr-reporting
Multi-regulatory reporting platform deltaconX has partnered with Murex SAS to offer common clients with an end-to-end solution to the requirements of several regulations including the Securities Financing Transactions Regulation (SFTR). As part of the deal, Murex will develop the integration of its MX.3 platform to deltaconX, which will, in turn,
As 2019 comes to an end it is time for us to have a look back at what happened regarding the various regulations. We also want to take this opportunity to give you an outlook on the upcoming year 2020. SFTR Certainly, one of the most discussed topics in 2019
The PRA has imposed a combined financial penalty on Citigroup Global Markets Limited, Citibank N.A. London branch and Citibank Europe Plc UK branch of £43.9 million for failings in relation to their internal controls and governance arrangements underpinning compliance with PRA regulatory reporting requirements. Full article:https://www.bankofengland.co.uk/news/2019/november/pra-fines-citigroups-uk-operations-44-million-for-failings Press release: https://www.bankofengland.co.uk/-/media/boe/files/news/2019/november/pra-fines-citigroups-uk-operations-44million.pdf?la=en&hash=5563730822D0D84D5717801180C6261A687B4D61
On 13 November 2019, the Dutch Authority for the Financial Markets (AFM) imposed an administrative fine of €2,000,000 on ABN AMRO Bank N.V. The fine was imposed because in the period between 18 July and 13 September 2016 ABN AMRO failed to disclose inside information on time. Full article:https://www.afm.nl/en/professionals/nieuws/2019/nov/boete-abn-amro
On October 3rd, ESMA published a public consultation on MAR, intended to get market participants’ views on a number of possible changes to the provisions of MAR. The scope of the changes is very wide ranging, and includes a possible extension of MAR to cover spot FX contracts, establishing EU
The decision to delegate SFT reporting has its appeal for many buy-side firms, especially those who have successfully delegated their EMIR reporting in the past. “If it ain’t broke, don’t fix it” is probably their prevailing view. The decision to continue with delegated reporting may be reinforced by the perception
On 31st October 2019, ESMA published further technical details of the XML Schemas for the reporting of Securities Financing Transactions (SFTs) as required under the SFT Regulation (SFTR). Under ESMA’s mandated use of ISO 20022 in SFT reporting, these Schemas must be approved by ISO’s Evaluation Team. Unfortunately, there has
KRM22 plc, (AIM: KRM) the technology and software investment company that focuses on risk management for capital markets, today announces that it has partnered with deltaconX, a provider of regulatory reporting services for European financial, energy and commodity trading organisations. The deltaconX SaaS-based service, which will be available through KRM22’s Global
The Securities Financing Transaction Regulation (SFTR)1 is an EU regulation set out to increase the transparency of securities financing transactions and the reuse of collateral. The regulation covers two aspects of transparency. The first, which this article focuses on, is the reporting obligation for SFTs that have been concluded, modified,
SimCorp’s SFTR cloud solution is live, in partnership with deltaconX, ahead of the Securities Financing Transactions Regulation (SFTR) reporting requirement, in April 2020. SimCorp, a leading provider of and services to the global financial services industry, today announces the go-live of its SFTR cloud solution, available to clients as part
Starting with banks and investment firms, SFT Reporting starts in April 2020; non-financials have another 9 months. Between now and then, some medium-sized market participants will need to decide if they want to continue with delegated reporting or move over to direct reporting. There are merits to both approaches. For
On October 3rd, ESMA published a public consultation on MAR, intended to get market participants’ views on a number of possible changes to the provisions of MAR. The scope of the changes is very wide ranging, and includes a possible extension of MAR to cover spot FX contracts, establishing EU
On 22nd March 2019, the EU published the SFTR implementing regulation in the Official Journal of the European Union. Publication confirms the start-dates of transaction reporting for investment and non-financial companies. Data managers have a number of technical hurdles to surmount, so adequate planning is crucial. In the third of
With 7 months to go before the first SFT reporting deadline, firms subject to that deadline should be very well advanced with their system preparations. Many firms should have started their user acceptance and integration tests, or at least should have signed-off test scripts. Even firms who have elected to
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