SECURITIES FINANCE TRANSACTION REGULATION (SFTR) COUNTDOWNAre you on track for the April 2020 SFTR deadline?

It’s been a long road, but as we close in on April 2020, the urgency is real.

EP/COUNCIL APPROVAL CONFIRMEDThe European Commission and Parliament declare that SFTR will go into effect April 2020.

MARCH 2019

INSTALL UPGRADED SOFTWAREWhatever system your organization employs, it is likely that an upgrade or an additional module may be required. Can your provider meet your upgrade needs alongside those of their other clients?

FROM JUNE 2019 –

CONFIRM DELIVERY PROJECT PLAN

With a go-live date set, work now must be done on crystallizing

milestones and marshalling the resources necessary to meet them.

MARCH – MAY 2019

TRADE REPOSITORY TESTINGConnectivity and testing with your chosen Trade Repository (TR) requires selecting one of the many providers in this space. Failing to connect effectively and understand exactly how the data transfer will work could invite project failure.

SEPT. 2019 – FEB. 2020

IMPLEMENTATION AND CONTINGENCY

The logic of what to report and when to report it, including all

life cycle events, is leading many market participants to examine their

existing workflow and capabilities.

DEC. 2019 – MARCH 2020

By now you should be well on your way to the finish line. If not, there’s not much time left to catch up!

FIS has been working closely with all the trade repositories to ensure an efficient and cost-effective SFTR solution. Collaboration across the industry has never been stronger and FIS is front and center in that effort. And we’re happy to say that Apex Securities Finance and Global One fully support SFTR reporting with the ability to produce the SFTR reports in the ESMA ISO 20022-defined layouts or connect with a third-party provider of your choice.

To discover how FIS can keep you on track, contact us – we’re here to help.

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GO LIVEReporting begins

APRIL 2020

Make no mistake, the Financial Conduct Authority (FCA) has been aggressive in its approach to fining market participants and have handed out some significant fines for those failing to comply accurately with reporting requirements. The onus is very much on data submitters to be accurate; don’t expect the trade repositories or the regulator to guess what to measure.

YOU SHOULD BE HERE!

SEPT.

OC T.

NOV.

DEC.

JAN.

FEB.

DATA GATHERING, LOADING AND TESTING

SFTR has added many new data fields for transaction reporting that the securities finance business has simply not had to consider before.

Data gathering, loading and testing cannot be underestimated.

MAY – OCT. 2019