EMIR and SFTR single hub reporting

Client

Belgian private bank

Keywords

• EMIR reporting
   
• SFTR reporting

Context

The bank is a long-lasting client of Finalyse, who requested an outsourced EMIR reporting managed service in 2018. Upon release of the new SFTR regulation, the client encountered the challenge identifying what rules specifically apply to them, what data must be collected and from what sources, which information is optional to disclose, and which is mandatory.

Finalyse has been working on extension of functionalities of automated reporting tool to cover securities financing transactions. Earlier this year our development team has completed upgrading of the solution. Our aim is to allow our customers to be SFTR compliant with minimum costs and effort on their part, and to benefit from our expertise in reporting under the European regulatory framework. Thus this private bank in Belgium has become our first SFTR reporting client. The onboarding process is completed and the reporting will officially begin in July 2020.

Benefits of the provided solution

• Finalyse consultants expertise to design the data flow
• Finalyse consulting activities to realise a pre-study analysing the particular situation and best solution for the client (in-sourcing, delegation,..)
• Fully SFTR-Compliant data model with respect to the new standards
• Advanced data model design, with transaction history, audit and robust security measures
• Reporting of Securities Finance Transactions: Repo’s, securities lending or borrowing transactions, buy-back/sell back transactions and margin lending transactions
• Single hub for EMIR/SFTR reporting and valuation services
• Possibility to outsource direct reporting, counterparty delegation and third party delegation to Finalyse
• On-site implementation of the solution is available as well

Key success factors

Reporting requirements under SFTR are strongly inspired by EMIR. We already have ample experience with helping institutions to cope with reporting-related requirements. Leveraging on our experience and EMIR solution we have extended our software to cover SFTR.