Investment Operations

SEB Selects DTCC’s Global Trade Repository in Support of Its SFTR Obligations

The Depository Trust & Clearing Corporation (DTCC), said today that Skandinaviska Enskilda Banken AB (SEB) has selected its Global Trade Repository (GTR) service in order to meet their regulatory obligations under the Securities Financing Transactions Regulation (SFTR), which is expected to apply from April 2020.

“SEB has a longstanding relationship with DTCC and is very satisfied with our cooperation,” said Petra Tigerholm, Head of Markets Regulatory Reporting, at SEB. “Right now, SFTR is a major focus area, so choosing the right partner to deliver this project was of the upmost importance to us. We look forward to working together to deliver regulatory compliance for ourselves and our customers.”

To streamline client adoption of the service, DTCC recently added data transformation services to its SFTR offering, providing what it says is a one-stop shop for clients’ reporting needs. In addition, DTCC announced new partnership agreements with several technology firms, including Broadridge, EquiLend/Trax, FIS Global, IHS Markit/Pirum, Murex, RegTek.Solutions and SimCorp. According to a DTCC statement,  GTR is processing 40 million open positions per week, and more than one billion messages per month for over 100,000 entities – brokers, buy-side firms and corporates in seven jurisdictions across 35 countries, and more than 60 regulators around the world have access to GTR data, consistent with their regulatory mandates in each jurisdiction.

“DTCC is committed to helping our clients meet evolving regulatory reporting requirements, including SFTR,” said Chris Childs, President & CEO of DTCC Deriv/SERV. “ SEB is a valued client and we’re delighted they will be leveraging our one-stop SFTR offering to fulfill their forthcoming regulatory obligations, and are ready to extend its capabilities to additional market participants in the coming months,” Childs added.

In recent months, DTCC has delivered several reports on SFTR and systemic risk, publishing papers on the opportunities to continue enhancing financial stability 10 years after Lehman’s insolvency as well as a report on SFTR’s industry impacts and the role of trade repositories.