SmartStream RDU’s service to prepare firms for SFTR deadline

SmartStream Reference Data Utility (RDU) has launched a cloud-based security reference data service for enabling companies to comply with the European Union’s Securities Financing Transactions Regulation (SFTR) requirements. Banks and investment firms are expected to start reporting Securities Financing Transactions (SFT) to a registered trade repository starting from April 2020 onwards.

Peter Moss, CEO, SmartStream RDU, commented, “Although ESMA’s reporting guidelines have yet to be fully finalized, proactive firms will now be planning carefully how best to meet SFTR reporting obligations. SFTR transaction reports are complex and most firms have been focusing on capturing the details of the transaction, creating a UTI and ensuring that they have the necessary counterparty details already. Our goal is to remove the complexity from sourcing high-quality reference data and enabling firms to focus on managing their business”.

The supplier has stated that in order to provide an accurate way of gathering information for SFTR, it will acquire instrument reference data from industry sources, which it will then maps onto the required SFTR format and make it available via a cloud-based API.

SmartStream Reference Data Utility offers solutions to simplify complex reference data needs through the provision of a security master.

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