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Screenshot of a breaking news alert e-mail from Q2 2017
London Stock Exchange Group (LSEG) today announced that MTS and UnaVista are collaborating to offer a regulatory reporting solution for firms who execute Securities Financing Transactions (SFTs), such as repo trades.
Market participants with a connection to UnaVista Trade Repository and who trade repo contracts on the new Global Collateral Management (GCM) segment of MTS BondVision will be able to match initial trade data fields, creating an entry in the UnaVista portal which can be populated and enriched with additional data.
The proposed regulation covers SFTs conducted by any firms established in the EU, regardless of where the individual branch is. It will also include SFTs conducted by EU branches of non-EU firms, and any SFT where the securities used are issued by an EU issuer or by an EU branch of a firm. The proposal also explicitly identifies UCITS funds and AIFM funds as being subject to the regulation in its final form.
UnaVista Trade Repository went live for EMIR trade reports in 2014, ensuring customer compliance with reporting obligations across asset classes. MTS’s GCM segment enables the trading of bilateral and centrally cleared repo contracts between sell-side and buy-side participants via Request for Quote or OTC registration.
The collaboration will provide a single solution for the trading and reporting of SFTs with seamless front-to-back reporting of Unique Transaction Identifiers (UTIs), timestamps, ISINs and other product identifiers.
Mark Husler, CEO of UnaVista commented:
UnaVista is delighted to work with MTS, a leading repo trading venue in Europe, for the upcoming SFTR regulation. UnaVista has a proven track record of offering clients reporting solutions ahead of regulatory go-live, ensuring clients have the tools to allow them to meet their reporting obligations from day one.
Fabrizio Testa, CEO of MTS added:
Our new Global Collateral Management segment offers customers an automated, regulated and orderly market for repo transactions. Linking up with UnaVista to offer our clients a reporting solution for their repo trading ahead of the introduction of SFTR was a natural fit.