Tackling the requirements set up in the Securities Financing Transactions Regulation (SFTR) is said to be a main driver.

“SEB has a longstanding relationship with DTCC and is very satisfied with our cooperation,” says Stockholm-based Petra Tigerholm, head of markets regulatory reporting at SEB, according to a press release by DTCC on Monday.

A billion messages a month

“Right now, SFTR is a major focus area, so choosing the right partner to deliver this project was of the upmost importance to us,” she says.

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DTCC’s global trade repository service (GTR) is a large-scale operation, said to process 40 million open positions a week, and over a billion messages per month for over 100.000 stakeholders.

New rules

The European Commission has recently adopted new measures under SFTR, the regulation expected to come into force from April 2020. More details on the Securities Financing Transactions Regulation are available on the European Commission website.

DTCC itself has previously published a paper looking at expected industry impacts of the SFTR.