archives

SFTR

This category contains 15 posts

ESMA indicates SFTR leeway and other Corona news

ESMA has today issued this statement and this press release, asking NCAs to “not prioritise supervisory actions” with regards to the upcoming start of reporting under SFTR. The first start of reporting date is on 13 April 2020 for credit institutions, investment firms, and relevant third country entities. The statement recognises the pressure on resources … Continue reading

Final SFTR documents published – commodities information

Earlier this week ESMA published a final series of documents relating to the Securities Financing Transaction Reporting regulation (SFTR). The scope of SFTR includes “commodities lending”, which could be taken to include certain activities undertaken by commodity and energy market participants. SFTR covers Non-Financial Counterparties (NFC), as well as Financial Counterparties (FC). Reporting starts in … Continue reading

Reporting issues in financial regulation and a new master agreement

There have been several revelations recently that many who are obliged to report under MiFID II have been experienced issues with reporting. This article on The Trade News web site reports that a high proportion of market participants receive no feedback from regulators on submissions. The article refers to a study carried out by vendor … Continue reading

SFTR consultation responses

ESMA recently closed a consultation on the Securities Financing Transaction Reporting regulation (SFTR). The scope of SFTR includes “commodities lending”, which could be taken to include certain activities undertaken by commodity and energy market participants. SFTR covers Non-Financial Counterparties (NFC), as well as Financial Counterparties (FC). Earlier this year the start dates of reporting were … Continue reading

SFTR dates known – and a radio broadcast

The Securities Financing Transaction Reporting (SFTR) implementing regulation has now been published in the Official Journal of the European Union. This sets the start of reporting dates. The first date is 11th April 2020 for Investment Firms. The date for NFCs is 11th January 2021. The final set of documents can be found here. Previous … Continue reading

What could 2019 have in store for us?

As the working year of 2019 opens, it is worth taking a few moments to consider what will keep us busy in the regulatory world of energy and commodity trading over the coming months. As usual on this blog, we will focus on Europe, with an eye on the rest of the world. The era … Continue reading

SFTR delegated regulation adopted by Commission

Last week, the European Commission adopted several level II texts relating to the Securities Financing Transaction Regulation (SFTR). The rules require that transactions in repurchase agreements, securities lending/borrowing, commodities lending/borrowing, buy/sell back and “reuse” of collateral are reported to authorised Trade Repositories. The rules will apply to a wide range of entities, including non financial counterparties, … Continue reading

2018 begins – what does it have in store?

The 2018 working year starts today for most, which provides a good opportunity to consider the months ahead. Start of year The end of 2017 has been unsurprisingly busy, with several pieces of news posted since our “end of year” entry.  In addition to today being the first day on which Swiss “FC-” and “NFC+” … Continue reading

Could EMIR reporting change? Articles and information on trade reporting under EMIR, MiFID, SFTR and FinFrag

There has been a great deal of discussion on the future of EMIR following the EMIR review in 2015. Some of this has focused on whether the reporting of trades under EMIR should move to a one sided model, or possibly one with “enforced delegation” when a financial counterparty trades with a “small” non financial. … Continue reading

Final report on SFTR issued by ESMA

ESMA have issued a final report on the Securities Finance Transaction Reporting rules, which can be found here. The associated press release is here. SFTR will require all market participants to report “securities financing” transactions, which includes commodities lending, to Trade Repositories. Page 60 of the document, section 4.2.4.3 addresses some commodity specific issues. It refers … Continue reading