ISLA CEO: SFTR at a very pivotal point
09 April 2018 London
Image: Shutterstock
Securities Financing Transactions Regulation (SFTR) is at 鈥渁 very pivotal point鈥�, according to Andy Dyson, CEO of the International Securities Lending Association (ISLA), in a video message released on the association鈥檚 website.
Dyson said: 鈥淲e are currently waiting for the [European] Commission to start the formal adoption of the technical standards that were published by the European Securities and Markets Authority (ESMA) in March 2017.鈥�
鈥淗owever, in the meantime, we as an industry association together with many of our member firms, have been very active looking at the data specifications for SFTR and also working closely with a number of vendors and member firms around things like unique transaction identifier (UTI) generation鈥�, he added.
He also stated that a 鈥渃oncerted and consistent approach鈥� was needed in dealing with data and certain attributes around the process associated with SFTR, as, he said, 鈥渢his will make the implementation much smoother for ISLA members and the broader market鈥�.
He further commented that ISLA would be devoting 鈥渜uite a lot of [its] time to the subject at [its] forthcoming conference in June this year鈥�.
Dyson said the main focus areas of the conference, which will take place in Lisbon, will be 鈥渃onnectivity, data aggregation and matching services, as well as the roles of the trade repositories in the overall trade flow鈥�.
He concluded: 鈥淎s we think about where we might go with this in the next six to 12 months, we believe that it is all about working together, and being prepared as we begin to see what the final technical standards look like, which we hope will be published in the next one to two months.鈥�
Dyson said: 鈥淲e are currently waiting for the [European] Commission to start the formal adoption of the technical standards that were published by the European Securities and Markets Authority (ESMA) in March 2017.鈥�
鈥淗owever, in the meantime, we as an industry association together with many of our member firms, have been very active looking at the data specifications for SFTR and also working closely with a number of vendors and member firms around things like unique transaction identifier (UTI) generation鈥�, he added.
He also stated that a 鈥渃oncerted and consistent approach鈥� was needed in dealing with data and certain attributes around the process associated with SFTR, as, he said, 鈥渢his will make the implementation much smoother for ISLA members and the broader market鈥�.
He further commented that ISLA would be devoting 鈥渜uite a lot of [its] time to the subject at [its] forthcoming conference in June this year鈥�.
Dyson said the main focus areas of the conference, which will take place in Lisbon, will be 鈥渃onnectivity, data aggregation and matching services, as well as the roles of the trade repositories in the overall trade flow鈥�.
He concluded: 鈥淎s we think about where we might go with this in the next six to 12 months, we believe that it is all about working together, and being prepared as we begin to see what the final technical standards look like, which we hope will be published in the next one to two months.鈥�
← Previous regulation article
ISLA 鈥榰nconvinced鈥� that haircut levels a 鈥榤aterial contributor鈥� to the financial crisis
ISLA 鈥榰nconvinced鈥� that haircut levels a 鈥榤aterial contributor鈥� to the financial crisis
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities 麻豆影视传媒 Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities 麻豆影视传媒 Times
