Deutsche Börse has just announced that REGIS-TR, the pan-European trade repository services company will open a Trade Repository in the UK.
The UK clients will need this kind of presence in a post-Brexit world and REGIS-TR will provide a continuous service for these clients.
REGIS-TR was launched back in 2010 by Iberclear and Clearstream.
Clearstream already maintains an office and IT infrastructure in London, and full-time employees are already providing trade repository services for UK clients, who make up a significant portion of REGIS-TR’s client base.
The UK Trade Repository is pending approval by the FCA and will be operational in the next few weeks. Trade repositories already based in London need to establish a TR in EU 27 in order to continue to service their EU clients, post-Brexit.
In the interest of stable markets and business continuity it is paramount for us that we meet our UK clients’ needs and ensure a smooth transition for all of our clients. To that end, we will provide close guidance, and will make sure clients can meet their testing requirements. That’s why we decided in a timely manner, well before the UK leaves the European Union, to set up a trade repository in the UK. Working across multiple jurisdictions is familiar territory for us, because REGIS-TR is the only trade repository with approval for both the European Market Infrastructure Regulation (EMIR) and the Swiss markets regulation FinfraG,” said Elena Carnicero, CEO, REGIS-TR.