The European Union’s head regulator and supervisor, the European Securities and Markets Authority (ESMA), has set a definitive target date of Oct. 11, 2027, for the bloc’s highly anticipated transition to a T+1 settlement cycle. The announcement of the transition date is part of ESMA’s final report on shortening the settlement cycle, which includes the… Read More >>
E.U.’s Buy Side Wants T+1 to Happen Sooner
The German buy side is advocating for the earlier adoption of shorter T+1 settlement, amid growing calls for harmonization with the U.K. and Switzerland. The German Investment Funds Association (BVI), which represents 115 fund companies and asset managers with €4 trillion ($4.4 trillion) in assets under management (AUM), is pushing for the European Union to… Read More >>
Time to Rethink Your SFTR Reporting Efforts?
(To quote the European Securities and Markets Authority (ESMA), the Securities Financing Transactions Regulation (SFTR) “responds to the need to enhance the transparency of securities financing markets and thus of the financial system. The Regulation was published in the Official Journal of the European Union on 23 December 2015.” For firms that do business in… Read More >>
IHS Markit Acquires Trade Reporting Vendor
Catena Technologies Becomes Part of IHS Markit IHS Markit, a market data, analytics and solutions vendor, reports that it will be able to offer a solution that integrates transaction reporting with other post-trade and compliance workflows via the acquisition of Catena Technologies, a regulatory trade reporting provider for an undisclosed sum. The combination with IHS… Read More >>
Barclays, Goldmans & JPMorgan Endorse DTCC’s GTR
Barclays, Goldman Sachs and JPMorgan have added their names to a growing list of major financial services firms endorsing the Global Trade Repository (GTR) service of the DTCC as a way to fulfill pending regulatory reporting requirements for securities financing transactions (SFTs). French banking giant Société Générale and Skandinaviska Enskilda Banken AB (SEB) also intend… Read More >>
RJO Affiliate Launches OTC Agricultural Structured Products Group
New RJO Group Will Use Proprietary Software Officials at futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) have announced that an affiliate R.J. O’Brien Financial has launched an over-the-counter (OTC) Agricultural Structured Products Group that will target commercial agricultural companies across the globe – a first for RJO. The bilateral OTC initiative will… Read More >>
E.U. Authorities Brace for a Hard Brexit
Lost amid all the hot air about Brexit are the many global securities operations that will be disrupted when the U.K. leaves the E.U. One of the more contentious issues for global firms will be how to sort out their interactions with central counterparty clearinghouses (CCPs) based in the U.K. and Europe especially if there… Read More >>
E.U. Derivatives Reporting Will Get Funky After Brexit
The U.K. and E.U. negotiations over Brexit appear to be at a critical moment as the negotiators for both sides have just presented a preliminary agreement. U.K. Prime Minister Theresa May will unveil the deal to her cabinet and England this week. However, the initial pushback to the agreement has ranged from negative to skeptical,… Read More >>
Major Ops Vendors Endorse SFTR Reporting via GTR
The DTCC has scored the support of major operations IT and service providers as they have agreed to link their Securities Financing Transactions Regulation (SFTR) reporting solutions to the DTCC’s Global Trade Repository (GTR) in a bid for a streamlined workflow, officials say. The DTCC has new partnerships with Broadridge Financial Solutions, FIS Global, Murex,… Read More >>
ESMA Sets Final Deadline for LEI Applications
The European Securities and Markets Authority (ESMA) will not be extending its deadline for the Legal Identity Identifier (LEI) application process, and financial services firms will have to apply for their LEIs by July 2, officials say. “The temporary period allowing for a smooth introduction of the use of Legal Identity Identifiers (LEIs), originally brought-in… Read More >>
