The prestigious accolade is an industry recognition of Validate.Trade for SFTR, the only independent data quality assurance solution for ESMA’s Securities Finance Transactions Regulation (SFTR).
The fifth part of the ‘SFTR Shorts’, a series of bite-sized discussions around various aspects of the Securities Financing Transaction Regulation (SFTR). Alan McIntyre, Senior BA and Industry Relations Lead at Regtek.Solutions drills into various aspects of the reporting requirements under SFTR and identifies some of the challenges that firms will need to consider.
RegTek Solutions and SmartStream Join to Offer Independent, Turnkey Reconciliation Solutions for Global Regulatory Reporting
SmartStream and RegTek Solutions join to offer independent, turnkey reconciliation solutions for global regulatory reporting.
#4/4 of Alan MnIntyre’s well-received ‘SFTR Shorts’ series.
ESMA’s Final Report has been published – what does that mean for your business, enterprise or institution?
Alan McIntyre discusses the European Commission’s upcoming EMIR Review.
Adding a MiFIR/MiFID II Module to Validate.Trade is one of the next big areas of investment for Report-it.Trade. We have already developed a beta version based on the original ESMA drafts. The recent version of ESMA’s MiFID II / MiFIR Regulatory technical implementing standards– Annex I (RTS) has some notable differences to the previous draft version from a Transaction Reporting perspective and, therefore, from a Data Validation perspective too. I have summarized the points impacting Validate.Trade below.
Over the last six months, MiFIR/MiFID II readiness is the one topic that has consistently been top of mind at every firm I’ve visited across the industry. Given the traction that our Report-it.Trade suite has gained this year for G20 reporting, one of the first questions we get is “what are you going to be doing for MiFID II?”
MiFID II’s pre- and post-trade reporting rules are detailed and specific by asset class or sub-class, and firms will require an integrated, data-driven decision process at the front end to have any chance of achieving compliance. But many firms don’t have the technology or processes required to meet the regulations, and they will be looking for support from vendors in the form of new data services, outsourced expertise and software tools.
ESMA published its draft RTS for MiFID II/MiFIR. It will translate how legislation will apply in practice to market participants, market infrastructures and national supervisors.