Improving Your SFTR Reporting with DTCC and triResolve
For firms reporting via DTCC an added value connection has been added between the GTR and the triResolve reconciliation service. The connection enables firms to see a comparison between their data reported to GTR and the same transactions reconciled via triResolve.
The expanded description
TriOptima, a leading infrastructure service that helps to lower costs and to mitigate risk in OTC derivatives markets, has extended data connectivity between The Depository Trust & Clearing Corporation (DTCC) Global Trade Repository (GTR) service and TriOptima's triResolve platform to help market participants validate their reported securities financing transactions as they prepare for Securities Financing Transactions Regulation (SFTR) compliance.
Through this enhanced initiative, firms are now able to compare and align DTCC GTR trade records with their reported data fields in triResolve, allowing users to quickly identify and address any discrepancies, as well as amend reporting more quickly.
"From margin-lending transactions on a daily basis, to numerous collateral updates and valuations, market participants face a huge task when it comes to reporting," said Raf Pritchard, Head of triResolve. "This collaboration with DTCC is an important step to ensuring accuracy of data in the repositories for a traditionally under-reported part of the market."
"As Europe's largest trade repository, we remain committed to working with third-party providers to help the industry prepare for new regulatory reporting requirements," said Val Wotton, Managing Director, Product Development & Strategy of Repository & Derivatives Services at DTCC. "The extension of our relationship with triResolve to cover securities financing transactions is key to achieving our goal of promoting greater common standards across the market while providing greater value to our clients."
Under SFTR, set to come into effect for phase-one and two reporting on July 13, market participants are fully responsible for the accuracy of information when reporting their repo and securities lending transactions to trade repositories either directly, or through a delegated third party.
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