SFTR: Repo Reporting in Practice
|
This course is available on request. Contact us as at education@icmagroup.org to find out how we can deliver this training.
This course focuses on the practical aspects of reporting of repo transactions which are required under the EU Securities Financing Transactions Regulation (SFTR). It describes how and when repos (repurchase transactions and buy/sell-backs) should be reported to SFT trade repositories (subject to further clarification of some elements by ESMA), and highlights the challenges and, where possible, suggests solutions that were developed by the ICMA SFTR Task Force. A themed review of reporting fields (ie grouped into loan data, collateral data, etc), set against a repo life-cycle template, is brought together into a series of sample reports simulating different transaction configurations. Delegates will be provided with the latest version of ICMA's Recommendations for Reporting under SFTR.
The course will be delivered by Richard Comotto who is a lead member of the ICMA SFTR Task Force and author of the ICMA's Recommendations on Reporting Under SFTR.
Course Outcomes
By completing the course you will learn about:
- The background to the SFTR including FSB proposals and EU implementation
- The scope of SFTR including definitions, transaction and position reporting obligations, types of repo report and Action Types, matching (reconciliation), reporting deadlines and more
- Counterparty and loan data
- CCP-cleared repos and margin reporting
- …and much more
Who should attend?
- Staff who will be managing SFTR reporting
- Those managing the systems development required to support this reporting
- Compliance staff
- Anyone who wants a detailed and structured understanding of what has to be reported by whom and by when
- Staff from banks, investment firms, buyside and infrastructure-providers such as trading platforms, tri-party agents and reporting solutions providers
Certification and Programme Recognition
This course is certified by ICMA.
ICMA recommends that 12 learning hours can be associated with this course, based on attended/undertaken hours of study required to successfully complete the learning outcomes.
A Certificate of Attendance will be awarded to those who meet the minimum attendance requirements for this course.
ICMA is a member of the CPD® Certification Service, an FCA-approved qualifications provider and approved by the Securities & Futures Commission of Hong Kong as provider of Continuous Professional Training (CPT).
Please note that your course certificate of attendance or completion should be sufficient to satisfy any professional development requirements – if you require further evidence, please contact us at education@icmagroup.org.
- Background to the SFTR: origins in the FSB & evolution of EU proposals
- SFTR legal structure (at Levels 1, 2 and 3); and implementation timetable
- SFTR Scope
- SFT definitions
- Structure of data sets
- Meaning of optional fields
- Who has to report transactions
- Who has to report re-use of collateral & who is exempt
- Backloading of transaction data
- Counterparty data
- Who are the entities (including beneficiaries) & which of them reports
- How to report intermediaries (brokers & agent lenders) & infrastructures (trading venues, tri-party agents, custodians & (I)CSD, CCPs)
- Mandatory & voluntary delegation of reporting
- Loan data
- Types of report & which Action Types
- Who generates the UTI
- Determining availability for collateral re-use
- The problem of position-level reporting
- Reporting life-cycle events
- Reporting dates
- Repo rates
- The problem of buy/sell-backs
- Structured repos such as open repo, floating-rate repos
- Evergreen repos and extendible repos
- Collateral data
- How do collateral update reports work
- Identifying GC
- When to report at trade level &n when to report at next exposure level
- How to report collateral baskets including allocations after T
- Reporting collateral including classification, quality, price, market value & haircuts
- Cash collateral
- Reporting variation margins
- Special cases
- Intra-day repos
- Auto collateralized intra-day borrowing
- Repos documented under ISDA
- Cash rebate securities loans
- Undocumented repos
- CCP-cleared repos
- Concept of prior repos & RTNs
- Portfolio codes & cross-product netting
- CCP margin reporting
- Reporting the re-use of collateral
- Accurate reporting
- Approximate reporting using the FSB formula
- Definitions of own assets, received collateral, re-usable collateral & posted collateral
- MiFIR reporting of central bank repos
At ICMA Education & Training you can choose from a variety of ways to improve your knowledge and bring your career forward, choosing the option that best adapts to your needs and lifestyle.
Classroom
Participating in courses in a physical classroom setting is a great opportunity to network with peers and spend some time with the trainer as well as colleagues and counterparties, not to mention engage with the content and learn in a truly interactive fashion. Traditionally our most popular delivery format, classroom-based training offers a truly unique experience and will continue to be one of the foundations of ICMA training.
Liverstreamed
Learning in a digital environment has several advantages and is growing in popularity as a medium of instruction. ICMA courses are delivered via video conferencing accessed on our digital learning platform, using the most effective educational approaches and incorporating interactive functions like virtual breakout rooms.
Self-Study Online
ICMA Education & Training provides content, including videos and presentations, on our learning platform, which also features online assessments, digital certification, and fully downloadable course materials. Choose to study at your own pace in an environment that suits you best. Our self-study courses cater to a variety of learning styles, and we regularly add new courses to our portfolio.
Whether you need us to develop fully customised training programmes to help your staff meet regulatory compliance standards or support your graduate programme or you are simply interested in running one of our accredited off-the-shelf courses for your team, we can help you bring your team up to speed.
To find out more about how to arrange training for your firm, please email education@icmagroup.org.
