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ABN AMRO Bank selects UnaVista as regulatory reporting platform for SFTR trade

ABN AMRO Bank selects UnaVista as regulatory reporting platform for SFTR trade

UnaVista, part of London Stock Exchange Group (LSEG) has been selected by ABN AMRO Bank as their regulatory reporting platform for SFTR trade reporting and MiFID II transaction reporting.

UnaVista was selected for MiFID II due to the suite of additional products offered, which help firms to streamline their regulatory reporting. With over 10 years’ experience in regulatory reporting, UnaVista has considerable experience in helping firms with sourcing data from complex internal global data systems and applying bespoke logic before reporting.

ABN AMRO Bank will be using the UnaVista SFTR Accelerator, a data testing tool that allows firms to import sections of the required data to test against ESMA’s latest regulatory technical standards (RTS). The Accelerator Tool includes the ability to import data in the ESMA mandated XML ISO20222 format and to reconcile with counterparties for pre-matching. UnaVista’s extensive Partner Program allows clients to connect directly to the Repository via our many Collaborative Reporting solutions. The collaboration between ABN AMRO Bank, Broadridge 4Sight, IHS Markit and UnaVista will allow for simple and straight through routing of data directly into UnaVista’s Trade Repository.

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SFTR reporting goes live from April 2020 when firms will need to report their Securities Financing Transactions (SFTs) to an approved Trade Repository, such as UnaVista which is approved as a trade repository in both the UK and the Netherlands. The regulation is designed to increase transparency, allowing regulatory authorities to assess the risks associated with these transactions.

Mark Husler, CEO UnaVista, said: “We are delighted to be working with ABN AMRO Bank on such a strategic level. We believe UnaVista can add a lot of value to clients by simplifying the data collection process and by providing the tools to help firms improve their reporting on an ongoing basis.”

Jop Rouw, SFTR Implementation Lead, ABN AMRO Bank said: “ABN AMRO Bank is looking forward in partnering with UnaVista. We like to focus on our core business and fulfil our trade reporting obligations at the same time. With professional partners like UnaVista, we think we can have the best of both worlds.”

UnaVista’s SFTR Trade Repository will be available through the same award-winning, web-based technology as MiFIR and EMIR. With reference data to help firms enrich their reports and, flexible collaborative reporting models to help firms work with counterparties and extensive reconciliation and analytical tools, UnaVista helps to make complicated and costly reporting, simple and cost-efficient.  SFTR covers SFTs conducted by any firms established in the EU, regardless of where the individual branch is. It will also include SFTs conducted by EU branches of non-EU firms, and any SFT where the securities used are issued by an EU issuer or by an EU branch of a firm. The proposal also explicitly identifies UCITS funds and AIFM funds as being subject to SFTR.