On 11 March 2016, ESMA published a discussion paper on regulatory technical standards (RTS) and implementing technical standards (ITS) under the Regulation on reporting and transparency of securities financing transactions (SFTR). The paper includes:

  • Section 2 which explains the background to the proposals.  
  • Section 3 which includes detailed information on the procedure and criteria for registration as a trade repository under the SFTR.  
  • Section 4 which sets out the use of internationally agreed reporting standards, the reporting logic under the SFTR and the main aspects of the structure of the securities financing transaction report.  
  • Section 5 which concerns the requirements regarding transparency of data and aggregation and comparison of data.  
  • Section 6 which sets out the tables of fields for the relevant types of securities financing transactions, together with a summary of the questions.

Responses are invited by 22 April 2016. ESMA intends to publish a consultation paper in the third quarter of 2016. The final report and draft technical standards will be submitted to the European Commission for endorsement by 13 January 2017.