SIX announces launch of fully delegated SFTR reporting for Swiss Repo Market

Maria Nikolova

For the delegated reporting, SIX has partnered with UnaVista, London Stock Exchange Group’s trade repository.

Swiss

The Swiss Stock Exchange today announced that its Securities Finance Transaction Regulation (SFTR) reporting service is now live in synchronisation with the introduction of the regulation.

More than 170 clients are poised to benefit from this offering. The Swiss Stock Exchange automates the way it provides Unique Transaction Identifiers (UTI) creating a scale offering featuring SFTR-compliant and fully delegated reporting. For the delegated reporting, SIX has partnered with UnaVista, London Stock Exchange Group’s trade repository.

SFTR requires a vast amount of transactions to be reconciled between market participants, regulators and trade repositories with the aim of creating market-wide transparency and efficiency. The impact is particularly felt among smaller and mid-sized institutions which have to operate on thin margins with low scale. Delegating the work to an infrastructure provider like SIX is an efficient means to continue to compete.

As SFTR is a European regulation, SIX partnered with Comyno, a consultancy firm based in Frankfurt. Thanks to the successful collaboration on both sides, a comprehensive and efficient solution was implemented on time.

Commenting on the launch, Raphael Heuberger, Head Business Development Securities Finance, Securities & Exchanges, SIX said: “The launch of this service is yet another commitment to the cross-border business in our market. With a long-term strategy, effective partnerships and scale, we support the market to tackle their vastly changing regulatory environment.”

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