Sweden’s SEB chooses DTCC’s Global Trade Depository to meet SFTR obligations
Skandinaviska Enskilda Banken AB (SEB) has picked the Depository Trust and Clearing Corporation’s (DTCC) Global Trade Depository (GTR) service to deliver the bank’s regulatory compliance, reports Jane Connolly.
The GTR service will enable SEB to meet its obligations under the Securities Financing Transactions Regulation (SFTR), which is expected to apply from April 2020.
“Right now, SFTR is a major focus area, so choosing the right partner to deliver this project was of the upmost importance to us,” says Petra Tigerholm, head of markets regulatory reporting at SEB.
GTR currently processes 40 million open positions per week and more than one billion messages per month for over 100,000 entities, which include brokers, buy-side firms and corporates in seven jurisdictions across 35 countries.
More than 60 regulators around the world have access to GTR data, consistent with their regulatory mandates in each jurisdiction.