UnaVista, the regulatory reporting platform owned by London Stock Exchange Group, has announced that it will close its SFTR trade repository service.
The Securities Financing Transactions Regulation (SFTR) trade repository, which is currently operated by UnaVista Ltd in the UK and UnaVista TRADEcho B.V. in the European Union, will cease to offer regulatory reporting, and associated services from its rules engine, on 31 January 2022.
This move will enable UnaVista to reallocate resources towards its core Markets in Financial Instruments Regulation (MIFIR), European Market Infrastructure Regulation (EMIR) and G20 services, the company said, including preparatory work for the EMIR Refit.
As well as improving the performance and resilience of UnaVista’s existing package of services, it plans to introduce a series of upgrades, such as the launch of a new client portal and the extension of its analytics tools.
“We realise that this decision will mean our customers will have to onboard with another SFTR Trade Repository,” said the company, “and we regret any inconvenience this may cause. Guided by regulators, we are currently working with other SFTR trade repositories to streamline portability arrangements and we will be communicating details shortly.”
UnaVista will establish a number of working groups to help reporting firms to understand the porting process and to answer any further questions.
