UnaVista announced the upcoming closure of its SFTR trade repository (TR) service for both its UK and EU clients. This means all firms utilising UnaVista for their SFTR reporting will need to onboard with an alternative TR by the closure date of 31 January 2022. For those reporting under UK SFTR, the Depository Trust & Clearing Corporation (DTCC) is the only other registered TR, at this point in time.
At TRAction, we understand the stress firms face when transitioning between TRs and/or reporting delegates and that is why the move between SFTR TRs for our existing and new clients will be seamless. TRAction is experienced in migrating clients across TRs and reporting delegates, particularly on strict timeframes, as was the case with the notable market exit of CME (and the former Abide) in 2020. Additionally, TRAction has extensive knowledge of DTCC’s processes with respect to onboarding clients and reporting due to having worked with the TR since 2015. As a result, we will be migrating our clients from UnaVista to DTCC and are fully equipped to effectively manage the transition between the two TRs.
Our team will be working closely with UnaVista and DTCC to ensure a successful migration before the deadline in January 2022. If you require an alternative to UnaVista’s SFTR TR, please contact our team for assistance. Additionally, if you currently report under one or more of the following regimes; EMIR, MiFID II/MiFIR, ASIC, MAS, HKMA and/or Canadian firms and need to transfer to another TR, consider optimising your firm’s reporting processes for multiple regimes with a single reporting delegate – TRAction.
For existing clients, we endeavour to keep you informed on any changes to your SFTR reporting as soon as practicable. As it stands, no action is required from you and reporting will continue as normal until you are otherwise informed by our team.
Please do not hesitate to contact us should you have any questions or concerns regarding your SFTR reporting.