London 19 May 2020 – Delta Capita, the international business & technology consulting and managed services firm, today announced that it has extended its collaboration with The Depository Trust & Clearing Corporation (DTCC), the premier market infrastructure for the global financial services industry, to help market participants meet their Securities Financing Transactions Regulation (SFTR) trade reporting requirements. Through this collaboration, clients of DTCC’s Global Trade Repository (GTR) service for SFTR will be able to directly leverage Delta Capita’s buy-side data test pack, streamlining the testing process for DTCC’s GTR users to promote readiness for the forthcoming mandate.
The Delta Capita industry standard test pack, developed with a consortium of banks and agent lenders, is now available for asset managers, hedge funds and other buy-side firms for their SFTR testing. Clients of DTCC’s GTR service who license the test pack will have access to securities financing transactions life-cycle event test scenarios, including the expected results, to help identify issues and accelerate testing ahead of SFTR go live.
The pack comes with an online traceability module – linking SFTR test cases to the regulatory and industry technical standards, European Securities and Markets Authority (ESMA) rules and industry best practice. Firms can also benchmark their testing progress within their peer group.
Delta Capita’s test pack has been validated over the last year with DTCC, covering:
- 64 securities finance trading scenarios
- Over 200 repo and stock borrow/loan life-cycle events
- Nearly 2,000 different SFTR reports
David Field, head of the securities finance practice at Delta Capita, said, “Firms using the test pack will benefit from an enhanced testing data set, reducing testing effort, so testing is faster and less expensive, but at the same time, more robust.”
Valentino Wotton, Managing Director, Product Development and Strategy, Repository and Derivatives Services at DTCC, added, “As buy-side firms progress with preparations in order to meet forthcoming SFTR trade reporting requirements, testing will be an important milestone. We are pleased to be extending our partnership with Delta Capita and providing our GTR clients with an outstanding testing experience.”
DTCC and Delta Capita first collaborated in 2018 with the publication of an SFTR industry paper, “Addressing the Industry Impacts of SFTR”. In 2019, DTCC worked with Delta Capita’s banking consortium, providing DTCC Report HubTM services in order to transform Delta Capita’s SFTR reporting data into the ESMA-required ISO 20022 XML format.
Delta Capita also joined DTCC’s Partner Program as a Strategic Partner in May 2020.
About Delta Capita
Delta Capita Group (a member of the Prytek Group) is a global consulting, solutions and managed services provider. Delta Capita has a unique combination of experience in Financial Services and technology innovation capability. Headquartered in London with offices around the world, we work with the world’s top financial institutions to help them comply with regulations, simplify operations, reduce costs and innovate their business models and leverage leading fintechs. Prytek, a multinational corporation headquartered in Singapore, focuses on technology investments and operations-as-a-service companies, with a $300m diverse portfolio across fintech, edutech, artificial intelligence, cyber security and human resources. Delta Capita is the financial services arm of Prytek, bringing a range of innovation and technology to its clients.
With over 45 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From operating facilities, data centers and offices in 15 countries, DTCC, through its subsidiaries, automates, centralizes and standardizes the processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm
simplifies the complexities of clearing, settlement, asset servicing, data management, data reporting and information services across asset classes, bringing increased security and soundness to financial markets. In 2019, DTCC’s subsidiaries processed securities transactions valued at more than U.S. $2.15 quadrillion. Its depository provides custody and asset servicing for securities issues from 170 countries and territories valued at U.S. $63.0 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes over 14 billion messages
About DTCC’s Global Trade Repository (GTR) Service
DTCC’s Global Trade Repository (GTR) service is the industry’s trade reporting solution of choice for global OTC derivatives, serving approximately 80% of the global market. GTR covers all five asset classes – rates, credit, FX, equities and commodities – and processes over 14 billion messages annually on 40 million open trades a week covering 100,000 entities. GTR supports reporting regimes in Australia for the Australian Securities & Investments Commission (ASIC), in Hong Kong as an agent to the Hong Kong Monetary Authority (HKMA), in Europe for the European Securities and Markets Authority (ESMA), in Japan for the Financial Services Agency of Japan (JFSA), in Canada for various Canadian Regulatory bodies, in Singapore for the Monetary Authority of Singapore (MAS) and in the U.S. for the Commodity Futures Trading Commission (CFTC).