London, 2 July 2019 – Delta Capita, the international business & technology consulting and managed services firm, Pirum Systems and IHS Markit, announced today they will cooperate with an industry testing consortium to help firms meet the requirements of SFTR.

Delta Capita recently announced the creation of a consortium of banks to establish a standardised SFTR industry test pack. Under this new collaboration, Delta Capita will make the test pack available to IHS Markit and Pirum to support testing and provide feedback to the consortium.

Customers of the joint IHS Markit and Pirum SFTR solution who have independently licensed the consortium test pack will benefit from knowing the service has been reviewed by the SFTR solution providers, raising confidence in the service and potentially reducing their own testing effort and costs.

David Field, head of the securities finance practice at Delta Capita said “The test pack will provide full traceability to the RTS/ITS, ESMA guidance and industry best practices across repo, BSB and stock borrow/loan. It will provide users with the test data, test scripts and expected results they need to conduct their UAT and to test with their counterparts, trading venues, service providers, CCPs, triparty agents and trade repositories. Consortium members will be able to benchmark their testing run rates and pass rates to highlight areas of concern for review and remediation.”

Rajen Sheth, Chief Executive Officer at Pirum Systems, added “we’re pleased to be able to support our clients to leverage the testing consortium in order to bring efficiencies to participants as they work towards meeting their SFTR reporting obligation.”

Pierre Khemdoudi, managing director & global co-head of equities, data and analytics at IHS Markit said, “The securities finance industry will greatly benefit from the standardisation of testing as we continue implementing technology for SFTR reporting. By integrating Delta Capita’s testing within our SFTR solution, our common clients will be able to move forward with no additional effort, while being assured on the accuracy of the reporting.”

The consortium output can help any firm strengthen their SFTR testing in line with industry leaders. To find out more please contact david.field@deltacapita.com.