US data analyst and regulatory solutions provider, Sensiple, has partnered with European trade repository REGIS-TR to provide its buy-side clients with an end-to-end automated reporting solution for Securities Financing Transactions Regulation (SFTR).
It marks the second recent TR partnership for Sensiple having inked a similar deal with Univista, the TR of the London Stock Exchange, in March.
The first two phases of SFTR are due to come into play in July, for major financial institutions, central counterparties and central securities depositories, and non-EU investment firms and credit institutions.
Buy-side firms, including pension funds, insurance funds, UCITS funds, alternative investment funds must all begin reporting with phase three in October.
Sensiple, which describes itself as a regulatory technology solutions provider for repo and secured lending, aims to use the partnership with REGIS-TR to provide its large buy-side clients with European subsidiaries with a web-based, end-to-end automated solution for reporting.
The collaboration will see Sensiple integrate its flagship regulatory platform, Setrega, to provide straight-through processing SFTR reporting automation.
The firms say this will offer clients the capability to use Setrega’s technology to delegate their end-to-end reporting. Clients can also push files to Sensiple for conversion into ISO standard 20022 to be reported seamlessly to REGIS-TR under SFTR.
Setrega is also cross-jurisdictional in nature, and can be used for multiple reporting obligations to the Markets in Financial Instruments Regulation (MiFIR), the European Market Infrastructure Regulation (EMIR), and other regulatory requirements within the G20 framework, Sensiple adds.
For REGIS-TR, the partnership marks another step towards capturing buy-side clients that are still in the midst of constructing their SFTR’s reporting solutions.
Nick Bruce, head of business development at REGIS-TR, says: “Sensiple is working with industry leaders to design an SFTR reporting solution that can reduce the complexity of routing data to trade repositories.
“Sensiple’s SFT technology expertise, data management and augmentation services, together with our cost-effective solution and flexible account model, provide market participants with a reliable framework for SFTR compliance.”
Kumaraswamy, managing director and COO of Sensiple, adds: “This partnership with REGIS-TR will give Setrega an impetus to provide robust, efficient regulatory solutions to automate and digitise clients’ entire regulatory infrastructure and carve new heights in the targeted markets.”
The deal comes shortly after Sensiple became part of UniVista’s partner programme, which also allows Sensiple to leverage its Setrega platform to automate reporting requirements for its clients under SFTR, EMIR and MiFID II.
Speaking as the deal with UniVista was signed last month Kumaraswamy said: “With millions of trades reported under the European Securities and Markets Authority and other jurisdictions, Setrega facilitates financial firms to automate their regulatory compliance requirements, which are easy to use, highly interoperable, and scalable in technology.
“Setrega will help firms to quickly adapt and easily implement their regulatory changes and enable them with prior identification of regulatory breaches with predefined rules/alerts.”