Summary of CySEC's Circular C385
Memo #32-2020
CySEC Circular No: C385
Date: 08/05/2020
Subject: ESMA extends the registrations of four trade repositories (TRs) to include securities financing transactions (SFT) reporting under the Regulation (EU) 2015/2365 (‘SFTR’)
Purpose: To inform Regulated Entities that ESMA has approved the extension of registration of four TRs to include SFT reporting under the SFTR.
In Summary:
CySEC has issued the Circular C385 on 08/05/2020 in order to inform the Cyprus Investment Firms (‘CIFs’), Alternative Investment Funds and their Managers (‘AIFs’/‘AIFMs’), UCITS and their Management Companies (‘UCITS’/‘UCITS MC’), Non-Financial Counterparties and Central securities depositories (‘CSDs’) that the European Securities and Markets Authority (‘ESMA’) has published a press release on May 07, 2020, relating to the approval of the extension of registration of four trade repositories (‘TRs’) to include securities financing transactions (‘SFT’) reporting under the Securities Financing Transactions Regulation {Regulation (EU) 2015/2365} (‘SFTR’).
The registration extension, with effect from 7 May 2020, concerns the following four TRs:
i. DTCC Derivatives Repository plc.
ii. Krajowy Depozyt Papierów Wartościowych S.A.
iii.REGIS-TR S.A.
iv. UnaVista TRADEcho B.V.
All four TRs have been registered for all types of SFTs, i.e. repurchase transactions, securities or commodities lending and securities or commodities borrowing transactions, buy-sell back or sell-buy back transactions and margin lending transactions.
It is further noted in this Circular C385 that, regarding reporting obligations, counterparties to SFTs should consult ESMA’s public statement concerning actions to mitigate the impact of COVID-19 on the EU.
The ESMA press release can be found on the following link: https://www.esma.europa.eu/press-news/esma-news/esma-extends-four-trade-repositories-registrations-include-securities-financing
The ESMA’s public statement concerning actions to mitigate the impact of COVID-19 on the EU can be found on the following link: https://www.esma.europa.eu/sites/default/files/library/esma80-191-995_public_statement.pdf
Read the CySEC Circular C385
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