EU's New Securities Financing Trade Regime Goes Live

Law360, London (July 14, 2020, 4:06 PM BST) -- European Union rules that require the details of securities transactions to be reported to regulators have launched smoothly, the European Securities and Markets Authority has said.

The bloc's Securities Financing Transactions Regulation requires financial services companies to report all such transactions — known as SFTs — that they execute to trade repositories, registered companies that maintain the details of derivatives. The repositories are expected to validate the reports received and submit them to regulators.

ESMA said after the regime launched on Monday that reports from repositories suggested there had been "no major disruptions."

"Today, all four trade repositories opened their systems and [started]...

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