Swipe left: repo reporting no match for Brexit, or collateral
A happier start than Emir, but SFTR honeymoon is over now that trades report separately in UK and EU.
As ill-fated regulatory encounters go, few can rival the star-crossed introduction of derivatives reporting in Europe. Repo and securities lending participants have taken comfort in the fact that their own entrée to the Securities Financing Transactions Regulation (SFTR), which governs repo reporting, was not quite as disastrous.
Even so, reconciling counterparty reports for the same repo trade, known as pairing and matching, has troubled the SFTR’s debut, sources tell WatersTechnology’s sister
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