SimCorp’s SFTR solution goes live at European pension fund, PGGM

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SimCorp has announced the successful SFTR go live at the European pension fund, PGGM. The company’s SFTR solution, in partnership with deltaconX, has enabled PGGM to transition easily in the first month, with the processing of over 320 trades and over 590 valuations. The company’s reports have also been fully-automated, submitted, and accepted by the Trade Repository. SimCorp stated that it is currently supporting PGGM across all instruments, from repos to security lending as part of a market-standard solution.

Barry Vrijssen, Manager Operations at PGGM, commented, “We’re extremely pleased with the first month of the SFTR go live. So far, we have been able to report to T+1 requirements by noon each day, with 100% TR acceptance rates and without any additional manual work. As regulations go, the collaboration with SimCorp has made SFTR compliance a much simpler process and almost a non-event of going live”.

Barry Vrijssen added, “Having worked with SimCorp for a number of years, including on regulatory support for both EMIR and MiFIR, we knew when SFTR came along, that it made sense to have one source of data for both reporting and operational workflows. SimCorp’s consolidated approach, integrated Investment Book of Record (IBOR), market-standard solution, and ability to customize to our unique needs, have been critical to our success.”

PGGM has also been able to utilise SimCorp’s IBOR for enhancing its reporting quality, including validation of trade data against the regulatory rule set, and a consistent overview across all business processes. The company’s SFTR reporting solution was officially launched, five months ahead of the original go-live date, offering buy-side clients an efficient and integrated solution for SFTR transaction reporting, together with deltaconX AG’s regulatory platform.

Carsten Kunkel, Head of SimCorp Global Center of Regulatory Excellence, commented, “We are delighted that PGGM has realized the vision that we had in mind when creating SimCorp’s SFTR reporting solution. By delivering the solution through a highly automated and consolidated platform, with one source of data that serves both operations and reporting, we effectively enable clients like PGGM, to stay ahead of the game. Additionally, we can now see in action, the value of fusing together cloud technologies and managed services.”

Recently, SimCorp announced a new integration of its front-to-back investment management platform with Microsoft Azure.