The reporting solution, built with Pirum Systems, will be designed with the input of BNY Mellon, eSecLending and J.P. Morgan, among others.
The new solution promises to offer a fully hosted, end-to-end service to assist EU-based users to fulfill the SFTR obligation to report transaction details to a registered trade repository.
Irene Mermigidis, managing director at Regis-TR, said: “IHS Markit is working with industry leaders to design an SFTR reporting solution that can ease the complexity of routing data to trade repositories.”
She added: [IHS Markit] data management and augmentation service, together with our flexible account model and cost effective solution, provide market participants with a robust framework for SFTR compliance.”
Pierre Khemdoudi, managing director of securities finance at IHS Markit, commented: “Trade repositories will deliver the crucial final step of our end-to-end reporting solution.”
“Having Regis-TR, one of Europe’s largest trade repositories with established pedigree in the SFT space, collaborate with us at such an early stage will be a major asset to our solution’s user base, ensuring that we live up to our goal of delivering a seamless, fully interoperable solution.”
The expanded partnership comes shortly after UK-based trade repositories discovered they may may be forced to shoulder additional third-party recognition fees to operate under EU regulatory frameworks post-Brexit.