ABN AMRO Bank to use UnaVista’s Accelerator to prepare for SFTR

Maria Nikolova

UnaVista, part of London Stock Exchange Group, has been selected by ABN AMRO Bank as their regulatory reporting platform for SFTR trade reporting and MiFID II transaction reporting.

UnaVista, part of London Stock Exchange Group, today announces that it has been selected by ABN AMRO Bank as its regulatory reporting platform for SFTR trade reporting and MiFID II transaction reporting.

UnaVista was selected for MiFID II thanks to the suite of additional products it offers. These help firms to streamline their regulatory reporting. On the back of experience of more than 10 years in regulatory reporting, UnaVista assists firms with sourcing data from complex internal global data systems and applying bespoke logic before reporting.

ABN AMRO Bank will be using the UnaVista SFTR Accelerator, a data testing tool that allows firms to import sections of the required data to test against ESMA’s latest regulatory technical standards (RTS). The Accelerator Tool includes the ability to import data in the ESMA mandated XML ISO20222 format and to reconcile with counterparties for pre-matching.

UnaVista’s extensive Partner Program allows clients to connect directly to the Repository via its Collaborative Reporting solutions. The collaboration between ABN AMRO Bank, Broadridge 4Sight, IHS Markit and UnaVista will allow for simple and straight through routing of data directly into UnaVista’s Trade Repository.

SFTR reporting is poised to go live from April 2020 when firms will need to report their Securities Financing Transactions (SFTs) to an approved Trade Repository, such as UnaVista which is approved as a trade repository in both the UK and the Netherlands. The regulation is designed to increase transparency, allowing regulatory authorities to assess the risks associated with these transactions.

UnaVista’s SFTR Trade Repository will be available through the same web-based technology as MiFIR and EMIR. With reference data to help firms enrich their reports and, flexible collaborative reporting models to help firms work with counterparties and extensive reconciliation and analytical tools, UnaVista assists in making complicated and costly reporting, simple and cost-efficient.

SFTR covers SFTs conducted by any firms established in the EU, regardless of where the individual branch is. It will also include SFTs conducted by EU branches of non-EU firms, and any SFT where the securities used are issued by an EU issuer or by an EU branch of a firm. The proposal also identifies UCITS funds and AIFM funds as being subject to SFTR.

Read this next

Digital Assets

Luxembourg’s regulator warns on false regulation of Crypto Capital Profits

The regulator of Luxembourg’s financial markets, the Commission de Surveillance du Secteur Financier (CSSF), has warned that a firm claiming to be authorized under the name Crypto Capital Profits is in fact not licensed to carry out business from within its jurisdiction.

Institutional FX

FINRA fines Wedbush $900K over reporting violations

The Financial Industry Regulatory Authority continues to take disciplinary actions against financial services firms for providing inaccurate securities trading information.

Digital Assets

Bitkub investigated by Thai regulator in ‘wash trading’ case

Thailand’s Securities and Exchange Commission has targeted Bitkub over allegations of inaccurate reporting and wash trading on its cryptocurrency platform.

Crypto Insider

Crypto.com secures approval to launch its services in France

Crypto.com has registered its cryptocurrency services with the dual regulatory structure in France, which includes the Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR).

Inside View

How to offer iOS compliant trading apps? Editorial by Chris Rowe

Webtraders are becoming increasingly important for FX and CFD brokers as more and more of their clients are trading using their mobiles. 

Institutional FX

SpiderRock deploys Eventus trade surveillance for futures and options offering

“As we have begun to provide direct market access as a routing broker and grown in our futures offering, which is subject to a different regulator, we wanted to make sure we chose a trade surveillance platform that has all the tools that we need, a format we can review easily, and capabilities to demonstrate to regulators that we have the proper trade surveillance procedures in place. Validus checks all the boxes for us.”

Industry News

Space and Time raises $20 million to grow its decentralized data warehouse

“We look forward to seeing the ways in which Space and Time will allow the business logic in centralized systems to be automated and connected directly to smart contracts.”

Digital Assets

Mastercard, hi app partner to issue cards with NFT avatars

In partnership with Mastercard, crypto and fiat financial app hi is launching what it calls “the world’s first debit card featuring NFT avatar customization.”

Digital Assets

Wirex to support government of Uzbekistan to adopt blockchain

“We’re excited to work alongside the Uzbekistan Direct Investment Fund in order to help the sector thrive, enrich the financial ecosystem there and set a benchmark for other countries, and ultimately expand.”