ESMA has today published a new consultation on draft Guidelines on the calculation of positions by Trade Repositories (TRs) under the Securities Finance Transaction Regulation (SFTR).
The consultation paper on draft Guidelines sets out the relevant clarification to TRs with regards to the compliance with Article 4(6) of SFTR; a general requirement for them to calculate positions (by cross-reference to Article 80 of EMIR).
The aim of the Guidelines is to ensure consistency of position calculation across TRs, with regard to the time of calculations, the scope of the data used in calculations, the treatment of outliers, the record-keeping of data and the calculation methodologies. Furthermore, these Guidelines are designed to ensure a consistent methodology is used under EMIR and SFTR, whilst still reflecting the specificities of SFT reporting.
The deadline for responses is 15 September 2020, with final guidelines expected to be published in Q4 2020/Q1 2021.
Click here to access the consultation paper.