Understanding Securities Financing Transaction Regulation – SFTR

Training Objectives

By the end of the course, delegates should be able to:

• Identify what trading activities are covered by SFTR, who has to report and by when;
• Outline the role of trade repositories and recognise the reports sent to and sent out by these entities;
• Distinguish the types of record to be sent to trade repositories and know in what order they should be sent;
• Select and describe the data fields required for generic SFT structures, whether collateralized at transaction or portfolio level;
• Complete a basic calculation of the estimated re-use of collateral.

They should also:

• Be aware of some of the practical issues that have arisen in reporting;
• Know where to look for further guidance.

Training Outline

• Background which has brought the SFTR
• What is Shadow Banking and how is it related to SFTR
• Purpose of SFTR and key requirements for reporting parties
• What SFTR covers: repos, securities/commodities lending, margin lending
• Who is subject to SFTR, including mandatory delegation and branches
• The role of trade repositories: who they are; what they do (validation and recon-ciliation); what you send them and what they send back and to others
• Types of report (Action Types) and sequencing
• Reporting deadlines.
• Data sets, matching fields, cardinality rules (mandatory, conditional or optional) and conditionality links between fields
• Counterparty data
• Loan data: type, UTI, level of reporting, legal data, term, rate
• Collateral data: type; level of reporting; classifications
• CCP-cleared SFTs and margins
• Collateral re-use reports: actual and estimated
• Practical examples provided by ESMA

Training Duration

This course may take up to 3 hours to be completed. However, actual study time differs as each learner uses their own training pace.

Participants

This course is suitable for any professional involved with SFTR. Delegates would benefit from a familiarity with repos, securities lending and margin lending but this is not essential.

The course is offered fully online using a self-paced approach. The learning units are based on reading material. Learners may start, stop and resume their training at any time.

Registration and Access

To register to this course, click on the Get this course button to pay online and receive your access instantly. If you are purchasing this course on behalf of others, please be advised that you will need to create or use their personal profile before finalising your payment.

Access to the course is valid for 365 days.

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