16th October 2018
Joao Serodio, business analyst lead at AxiomSL, discusses SFTR and affirms collaboration is the best way forward for the industry to face it in the Securities Lending Times article.
What should firms be doing to prepare for the implementation of SFTR?
“Most impacted firms or at least, most of the firms AxiomSL has been talking to have redeployed their resources to comply with SFTR. The industry is experienced enough to understand the implications of non-compliance and the extent of implementing reporting solutions. Most firms within financial services have been impacted by several reporting regimes in recent years. Nevertheless, the issues and difficulties of SFTR are not always fully understood. If a firm does not have all the necessary data to report, there are two questions they need to ask: where do we find the right data and how do we extract it? Whether they will be able to reconcile that data with the demands of SFTR would be the next question, therefore they need to start by accessing the right data before this can be addressed. SFTR is not well understood by the industry. Most firms are already engaging in a plan to prepare, but the ones who aren’t should really start to get going as soon as possible.” – Joao Serodio, business analyst lead at AxiomSL.
Read the full interview published in the Securities Lending Times: Come together, right now! (PDF)