Meet your SFTR obligations while reducing the reporting burden
The Securities Financing Transactions Regulation (SFTR) requires EU counterparts to report their SFT details to a registered trade repository. As one of the reporting counterparties under SFTR, we can offer a dedicated regulatory reporting support service allowing any borrower and lender under the ASLplus, ASL and ASL principal programmes to delegate their reporting to Clearstream.
SFTR Reporting Support Service
The SFTR Reporting Support Service relieves customers from the reporting burden and removes the efforts needed to resolve reconciliation breaks. Our solution will continually evolve to keep track of any regulatory driven required enhancements.
Clearstream is leveraging a third-party vendor/reporting intermediary SFTR service from the joint IHS Markit/Pirum offering. This service is supporting us with our reporting flow under SFTR, as well as giving us the possibility to provide the Regulatory Reporting Support Service to all our securities lending customers. The underlying technique for this service offering is called “mirroring”, which is offered by IHS Markit’s functionality.
Maintaining oversight
The service allows customers to maintain a regular oversight of the reporting that Clearstream is performing on their behalf via the following suggested methods:
- Standard customer reporting that includes MT54x, MT535 and MT536 messages; the daily SLBC (Securities Lending and Borrowing Commissions) report; and (for lenders only) the daily SFCR (Securities Financing Collateral Report).
- Read-only access to a user interface provided by IHS Markit.
In addition, customers can gain access to a trade repository via the respective user interface.
Reporting to a trade repository
Clearstream reports the selected securities lending transactions within the product offering of ASLplus, ASL, ASL principal and the associated collateral on behalf of its customers to a trade repository. Clearstream has selected REGIS-TR as trade repository for its own transactions.
Subscription
The reports are delivered close to real time and customers can subscribe to the service on a per account/product basis. Please contact your Relationship Manager for subscription details.