EquiLend and Trax are collaborating on a full front-to-back Securities Financing Transactions Regulation (SFTR) solution to support mutual clients in their SFTR reporting requirements.

EquiLend’s expertise in the securities finance industry combined with Trax’s regulatory reporting and repo trade confirmation heritage will result in a comprehensive service covering all SFTR-eligible asset classes.

As a leading securities finance trading, post-trade and market data provider, EquiLend captures many key elements required for SFTR reporting at point of trade, including unique transaction identifiers (UTI), transaction time stamps and lifecycle events.

Trax’s flexible technology, deep understanding of cross-asset class regulatory reporting, repo trade confirmation capabilities and broad institutional buy- and sell-side client community provides the foundation for a dynamic solution which enables firms to enrich, validate and report eligible SFTR transactions in near real-time. 

EquiLend will link its trading and post-trade platform to the Trax system to provide client trading and life cycle event information, while Trax will provide EquiLend clients with data enrichment, reporting services and access to multiple trade repositories.

Brian Lamb, CEO of EquiLend, says: “SFTR is one of the most complex and data-intensive regulatory reporting requirements the European securities finance market has ever seen. This collaboration between EquiLend and Trax streamlines the process, offering mutual clients the simplest and most comprehensive front-to-back SFTR solution available.”

Christophe Roupie, Head of Europe and Asia, MarketAxess and Trax, adds: “The manual nature and multitude of actors involved in the securities financing trade lifecycle, in addition to the immense data requirements of SFTR, means that the industry needs more sophisticated data management and operational processes in place. Leveraging the expertise and technical capacity between Trax and EquiLend will be key for firms to effectively manage their regulatory obligations under SFTR.”