For Meeting The SFTR Deadline SmartStream Launches API For Firms Requiring Fast Access To Reference Data

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For Meeting The SFTR Deadline SmartStream Launches API For Firms Requiring Fast Access To Reference Data

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM ) services provider, today prolonged its Reference Data Utility (RDU) Securities Financing Transactions Regulation (SFTR) service to include an API for firms calling for fast accessibility to the innovation as well as information required to manage their reference data difficulties-- crucial for meeting the ESMA SFTR reporting deadline of July 13th.
With the enhancement of the API, firms have fast accessibility to brand-new devices to manage their SFTR conformity demands. This enables them to decrease execution time for releasing the vital parts for sourcing exact, thorough and also easy-to-access reference data. Significantly, a rapid onboarding process enables firms to be up and running with the service within 24 hr.

The RDU SFTR service can conveniently integrate as a value-added service to a recognized service, or it can be the beginning of a control framework particularly targeted at recommendation information for SFTR commitments.
The technology assist firms to verify recommendation data content during the final weeks of screening before the regulative due date-- whether that includes filling data spaces, settling exceptions, not having complete company to ISIN LEI coverage, or helping firms to prevent counterparty breaks and turned down records.

Linda Coffman, EVP, SmartStream RDU, commented; "In response to the adverse developments arising from the Coronavirus break out, ESMA made the strong choice to delay the initial deadline for the SFTR reporting responsibilities. Regardless of having an additional three-month home window to prepare, we have discovered that numerous firms need additional assistance to obtain them across the goal. We comprehend the stress of conference regulative commitments, and we are supplying conveniently accessible technology which focusses on vital SFTR reference information attributes." She continued; "Clients that have actually implemented the RDU SFTR service are positive in the stamina and accuracy of the information returned, and also can be certain that it aligns with governing requirements. On top of that, they value the subject matter proficiency we offer in keeping track of the regulation and also providing insights into data fads."

The recommendation data made use of by the SFTR solution is acquired by the SmartStream RDU from a wide variety of industry sources, prior to being normalised, enriched as well as mapped, on a solitary platform, into the format required by the regulatory authority.