Skandinaviska Enskilda Banken picks DTCC to meet SFTR reporting requirements

Swedish bank Skandinaviska Enskilda Banken (SEB) has chosen the Depository Trust & Clearing Corporation (DTCC) to meet its SFTR regulatory requirements.

SFTR, the Securities Financing Transactions Regulation, has an implementation deadline of April 2020 and covers transaction reporting, disclosure obligations and collateral reuse obligations. In order to meet these new requirements, SEB will implement DTCC’s global trade repository services which offer global regulatory reporting tools.

The GTS solution helps to manage systemic risk and spans three continents to give clients the ability to meet reporting needs through a single platform. To streamline client adoption of the service, DTCC recently added an SFTR offering to bolster the reporting capabilities.

DTCC is a post-trade market infrastructure for the global financial services industry. It provides an automated, centralised and standardised way of processing of financial transactions, mitigating risk, increasing transparency and boosting efficiency.

Its technology is used by broker/dealers, custodian banks and asset managers to simplify clearing, settlement, asset servicing, data management and information services across asset classes

DTCC president and CEO Chris Childs said, “DTCC is committed to helping our clients meet evolving regulatory reporting requirements, including SFTR.

“SEB is a valued client and we’re delighted they will be leveraging our one-stop SFTR offering to fulfil their forthcoming regulatory obligations and are ready to extend its capabilities to additional market participants in the coming months.”

DTCC has made a lot of moves in the space, having recently formed partnerships with Broadridge, EquiLend/Trax, FIS Global, IHS Markit/Pirum, Murex, RegTek.Solutions and SimCorp.

Enjoyed the story? 

Subscribe to our weekly RegTech newsletter and get the latest industry news & research

Copyright © 2018 RegTech Analyst


The following investor(s) were tagged in this article.