The ABACUS/Transactions software helps institutions to meet the new
reporting requirements regarding securities financing transactions
AMSTERDAM–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/BearingPoint?src=hash” target=”_blank”gt;#BearingPointlt;/agt;–Management and technology consultancy BearingPoint has expanded its
ABACUS/Transactions software with a new Securities Financing
Transactions Regulation (SFTR) module. Regulation (EU) 2015/2365 aims to
curb systemic stability risks through increased transparency
requirements, and BearingPoint’s SFTR module helps institutions comply
with the new reporting obligations regarding securities financing
The European Commission approved the final implementation standards of
the European Securities and Markets Authority (ESMA) on December 13,
2018. The Technical Standards, documented in the ESMA’s Final Report
ESMA70-708036281-82, are set to be published in the Official Journal of
the European Union, following the ongoing approval period of the EU
Parliament and Council. Reporting requirements under SFTR will be
introduced in several phases for different counterparty classes. The
market players, starting with credit institutions and investment firms,
are expected to be facing new complex reporting obligations from Q2/2020.
“Market actors tend to underestimate the complexity drivers,” said Bodo
Windmoeller, BearingPoint’s Chief Product Officer RegTech. “Myriad
regulations make financial services increasingly complex and costly.
Reporting institutions can rely on the various ABACUS/Transactions
modules to reduce the negative effects of the ever-increasing regulatory
requirements. Our tried-and-tested solution already supports various
types of transaction-based reports, ranging from EMIR, FMIA/FinfraG, CSA
and MMSR to MiFID II/MiFIR, and now, SFTR. Our clients can make the most
use of synergies along the regulatory value chain.”
The reporting scope under SFTR has been defined by the ESMA in the form
of Technical Standards (RTS/ITS) with detailed specifications regarding
SFT reporting, data collection and availability. The reporting
obligation applies to repurchase agreements, buy/sell backs,
securities/commodities lending and margin lending trades.
As a “sister regulation,” SFTR closely resembles the European Market
Infrastructure Regulation (EMIR). Article 4 of the SFTR requires
financial, non-financial and central counterparties in the EU to report
each new, modified or terminated securities financing transaction to an
authorized trade repository (TR) by the end of the following business
Alexander Becht, Product Manager for ABACUS/Transactions at
BearingPoint, explained: “We have already adopted the established EMIR
reporting logic and infrastructure within our SFTR module, enabling the
automatic generation and submission of reports to the trade repositories
from within the solution. ABACUS/Transactions has been in use since 2014
and has become well-established in the market, with renowned clients in
seven countries successfully using the software to comply with several
transaction-based reporting schemes.”
SFTR bridges the existing gaps with regards to securities financing
markets, introduces comprehensive transparency requirements for
investment fund managers (UCITS and AIFMD), and establishes requirements
for the further utilization of collaterals provided.
Further information can be found on https://www.bearingpoint.com/en/our-expertise/innovations/regulatory-risk-tax-reporting-technology/.
is an independent management and technology consultancy with European
roots and a global reach. The company operates in three units:
Consulting, Solutions and Ventures. Consulting covers the advisory
business; Solutions provides the tools for successful digital
transformation, regulatory technology and advanced analytics; Ventures
drives the financing and development of start-ups. BearingPoint’s
clients include many of the world’s leading companies and organizations.
The firm has a global consulting network with more than 10,000 people
and supports clients in over 75 countries, engaging with them to achieve
measurable and sustainable success.
For more information, please visit:
+49 89 540338029
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