In response to the announcement that the European Securities and Markets Authority (ESMA) expects competent authorities not to prioritise their supervisory actions towards reporting entities in respect to the Securities Financing Transactions Regulation (SFTR) until July 13, 2020, DTCC’s Val Wotton said:
“DTCC has been encouraged by the industry’s progress around SFTR preparations to date – evidenced by the testing which is currently underway; however, in light of the current circumstances, we support ESMA’s move to provide market participants with additional time to prepare. We remain committed to assisting our clients in preparing for the new deadline and our Global Trade Repository (GTR) SFTR service will be ready as and when the financial industry is required to go-live.”
