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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.

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