MarketAxess and EquiLend kick-off SFTR testing 30 July 2019London Reporter: Maddie Saghir
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Trax, a MarketAxess subsidiary, and EquiLend have begun user acceptance testing (UAT) with phase one go-live clients for their joint Securities Financing Transactions Regulation (SFTR) solution.
According to MarketAxess, clients are testing in a live solution environment rather than relying on mock-ups or simulation.
The live solution environment maximises clients鈥� ability to identify process gaps and development areas head of the SFTR deadline, MarketAxess revealed.
EquiLend and Trax teams have advised all SFTR-affected industry participants to allow at least six months for testing.
Sunil Daswani, head of business development for securities lending at MarketAxess, commented: 鈥淭he SFTR implementation deadline is fast approaching, and as we get closer to it the more complex it鈥檚 requirements appear to be.鈥�
鈥淲e鈥檙e delighted, therefore, to have our key clients already into UAT in a live environment鈥攁nd we urge the broader universe of asset management and corporates out there to do the same.鈥�
Daswani added: 鈥淲hat we鈥檝e learned from preparations for other regulatory changes, such as Markets in Financial Instruments Regulation, is that there is no such thing as being too prepared or going too early.鈥�
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