IHS Markit has announced that HSBC, UBS, BofA Securities, and 3 unnamed broker-dealers are to use the Outreach360 platform to manage standardised counterparty questionnaires for Securities Financing Transaction Regulation (SFTR).

The questionnaires, generated by the International Securities Lending Association (ISLA) and the International Capital Markets Association (ICMA), enable firms to exchange counterparty requirements for SFTR transaction reporting.

“The data management requirements for SFTR reporting are massive, and by leveraging Outreach360 to prepare for transaction reporting, broker-dealers and their customers in securities lending and repo markets can share vital information with greater ease,” said Lansing Gatrell, Managing Director for risk and regulatory compliance at IHS Markit.

“As we head into 2020, securities lending participants need to prepare for the daily obligations and counterparty responsibilities associated with SFTR transaction reporting,” said Adrian Dale, Director of regulatory policy and market practice at ISLA. “To help firms communicate SFTR requirements with efficiency, the ISLA SFTR working group has drafted standardised questionnaires for bilateral and agent lender use.”

Outreach360 will support real-time updates to questionnaire responses and counterparty classification for SFTR. These updates can be automatically exchanged through an API feed, as well as services like the IHS Markit SFTR reporting solution.