Securities Financing Transactions Regulation (SFTR)

The Securities Financing Transactions Regulation (SFTR) is the European Union’s (EU) regulatory response to the Financial Stability Board’s (FSB) August 2013 policy proposals for greater transparency. This was part of their broader review of Shadow Banking and related non-bank financing activities.

The three main articles relate to collateral reuse (Article 15), fund transparency to investors regarding SFT activity (Article 13&14) and finally trade and collateral reporting (Article 4) to Trade Repositories.

The regulation’s scope includes market participants located within the EU, their branches outside the EU and EU branches of non-EU participants.

ISLA has a dedicated group of specialist consultants working within the Association’s Regulation & Market Practice group, that are focused on Article 4 requirements with member firms and other industry stakeholders, including fellow trade associations through multiple working groups and streams. The working groups represent both buy and sell side participants, as well as vendors and tri-party agents.

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