LCH RepoClear appoints UnaVista as trade repository ahead of SFTR implementation

LSEG units announce new deal for reporting of Securities Financing Transactions ahead of new regulations due in April next year.

LCH’s RepoClear is to use UnaVista as its trade repository for reporting obligations under the Securities Financing Transaction Regulation (SFTR).

The business units, both part of the London Stock Exchange Group, have formed a new agreement whereby UnaVista will offer assisted reporting to LCH’s RepoClear members. RepoClear members will have the option to allow UnaVista to flip aspects of LCH’s transaction and margin reporting to create a report from the member’s perspective.

SFTR is scheduled to go live in April 2020 and will require firms to report details of their Securities Financing Transactions (SFTs) to an approved trade repository.

“LCH’s collaboration with UnaVista will significantly simplify reporting obligations under SFTR for RepoClear members,” said Mark Husler, chief executive officer of UnaVista. “UnaVista has a proven track record of partnering with the industry to reduce the burden on clients’ internal infrastructure, producing reliable web-based technology from day one, alongside exceptional customer support.”

The clearinghouse saw record volumes in 2018 across its equities, fixed income and OTC derivatives clearing services, with year-on-year increases driven by new products and a growth in client clearing. RepoClear reported the largest nominal amount cleared in the service’s history, with €197 trillion cleared.

“UnaVista is one of Europe’s largest regulatory reporting platforms for MiFIR and EMIR compliance and its significant experience in this field makes it a natural fit for RepoClear,” said Bruce Kellaway, global head of RepoClear & Collateral, head of Equity Clear. “As a result of this project with UnaVista, RepoClear’s members are now presented the additional option of assisted reporting to handle and simplify their SFTR requirements for those trades they clear through LCH.”