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ARTICLE · 10 OCTOBER 2020

Securities Financing Transactions Regulation (SFTR) Phase 3 To Start

Arendt & Medernach
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Amongst the requirements imposed by the SFTR is an obligation to report certain transaction data to trade repositories (legal persons that collect and maintain records of SFTs and derivative transactions subject to EMIR).

LuxembourgFinance and Banking
Henning Schwabe
Henning Schwabe
Yann Fihey
Yann Fihey
Daniel Petsch
Daniel Petsch
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Amongst the requirements imposed by the SFTR is an obligation to report certain transaction data to trade repositories (legal persons that collect and maintain records of SFTs and derivative transactions subject to EMIR). The objective is enhanced transparency of the SFT market – one of the main goals the SFTR is meant to pursue (taking a similar approach as that under EMIR with respect to derivative transactions).

The reporting of SFTs is being introduced gradually, starting from 11 July 2020 with phased applicability depending on the type of counterparties involved. As of 12 October 2020, "phase 3" will start. In practice this means that from this date, the SFTR reporting obligation will become applicable to:

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