SmartStream RDU lanceert Security Reference Data Service
Bedrijven bereiden zich voor om de deadline van april 2020 te halen en de complexiteit van sourcing en het afleiden van referentiegegevens te overwinnen
LONDEN-(BUSINESS WIRE)- The SmartStream Reference Data Utility (RDU), de specialist op het gebied van referentiedata, kondigde vandaag de lancering aan van een cloud-based beveiligingsreferentiedatadienst om bedrijven in staat te stellen te voldoen aan de vereisten van de verordening betreffende de financiering van effectentransacties van de Europese Unie (SFTR).
Het verzamelen van de gegevens die nodig zijn om de SFTR-rapporten te voltooien, zou voor de meeste bedrijven wel eens een hoofdpijndossier kunnen zijn wanneer de rapportageverplichtingen volgend jaar van start gaan. De SFTR verplicht banken en beleggingsondernemingen om vanaf 14 april 2020 te beginnen met het rapporteren van Securities Financing Transactions (SFT) aan een geregistreerd transactieregister. Elke transactierapportage moet de details van de transactie, de tegenpartijen en de specifieke kenmerken van het betrokken effect bevatten en veel bedrijven richten zich nu op de voorbereiding van die datum.
SmartStream RDU Launches SFTR Security Reference Data Service
Preparing firms to meet the April 2020 deadline and to overcome the complexity of sourcing and deriving reference data.
LONDON–(BUSINESS WIRE)– The SmartStream Reference Data Utility (RDU), the reference data specialists, today announced the launch of a cloud-based security reference data service to simplify and enable firms to meet the European Union’s Securities Financing Transactions Regulation (SFTR) requirements.
Gathering data required to complete SFTR reports could well prove a headache for most firms when the reporting obligations begin next year. The SFTR requires banks and investment firms to start reporting Securities Financing Transactions (SFT) to a registered Trade Repository beginning 14 April, 2020. Each transaction report must include the details of the transaction, the counterparties and the specifics of the security involved and many firms are now focused on preparing for that date.
In order to provide an accurate, comprehensive and easy-to-access means of obtaining the information, the SmartStream RDU acquires instrument reference data from a broad range of industry sources. It then normalises, enriches and maps this information into the format required by SFTR and makes it available via a simple, cloud-based API. Data is updated daily and five years of history is retained and accessible for back-loading, corrections and effective audit controls.
Peter Moss, CEO, SmartStream RDU, comments: “Although ESMA’s reporting guidelines have yet to be fully finalised, proactive firms will now be planning carefully how best to meet SFTR reporting obligations. SFTR transaction reports are complex and most firms have been focusing on capturing the details of the transaction, creating a UTI and ensuring that they have the necessary counterparty details already. Our goal is to remove the complexity from sourcing high-quality reference data and enabling firms to focus on managing their business”.
Ends
Notes to Editors
About The SmartStream Reference Data Utility
Financial institutions are critically dependent on high quality reference data to ensure that they can successfully trade electronically, automate their operations and report accurately to regulators. Large institutions spend millions of dollars to improve data quality, fix data issues and manage the exceptions that occur due to bad data.
The SmartStream Reference Data Utility (RDU) offers a simple solution to satisfy those complex reference data needs, by providing a high quality security master built using industry best practises. The RDU is the product of an initiative developed in close association with demanding global institutions and has been proven to deliver dramatically better quality data at lower cost.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190911005041/en/
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Email: nathan.gee@smartstream-stp.com
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