The European trade repository REGIS-TR is partnering with GLMX to provide a hosted reporting service for Securities Finance Transaction Regulation (SFTR).

Clients will be able to use GLMX’s pre- and post-trade platformand then delegate their reporting to GLMX to report their securities finance transactions to REGIS-TR under SFTR.

“GLMX is working with industry leaders to design an SFTR reporting solution that can ease the complexity of routing data to trade repositories,” said Nick Bruce, Head of Business Development, REGIS-TR. “We are delighted to be working with GLMX on this initiative.”

“SFTR will increase transparency in securities financing transactions but also presents a complex reporting challenge for market participants,” said Phil Buck, Managing Director of Europe, GLMX. “Our partnership with REGIS-TR allows GLMX to connect directly to the trade repository on behalf of customers, streamlining the onerous reporting process and enabling them to fulfil their regulatory obligations.”

SFTR requires EU counterparties to report their securities finance transaction details to a registered trade repository.