The Depository Trust & Clearing Corporation (DTCC), has partnered with three RegTech startups, to support their Securities Financial Transactions Regulation (STFR) compliance.
Through the deal, the startups will leverage the DTCC Global Trade Repository (GTR) service in order to meet the STFR regulatory requirements set for April 2020.
SFTR covers transaction reporting, disclosure obligations and collateral reuse obligations. Following the deadline, financial and non-financial counterparties will be required to report their SFTs to an approved EU trade repository.
The new partners are Trace G20 and MiFID II reporting company Catena Technologies, regulatory reporting and data management startup Compliance Solutions Strategies (CSS) and open banking solution Finastra.
DTCC is a post-trade market infrastructure for the global financial services industry. It provides an automated, centralised and standardised way of processing of financial transactions, mitigating risk, increasing transparency and boosting efficiency.
Its technology is used by broker/dealers, custodian banks and asset managers to simplify clearing, settlement, asset servicing, data management and information services across asset classes
DTCC managing director Marisol Collazo said, “DTCC works to advance industry-leading solutions that help secure and shape the future growth and development of the global financial marketplace.
“Our Partner Program supports this mission by actively promoting collaboration with global and regional financial technology providers to help mutual clients to mitigate risk, achieve market efficiencies and reduce costs – and SFTR is, rightly so, front of mind for many right now.”
This is the latest set of companies to partner with DTCC to support their SFTR compliance burdens. Earlier in the year, Swedish bank Skandinaviska Enskilda Banken (SEB) selected the company to gain access to regulatory reporting tools.
