On 25 May 2021, the European Securities and Markets Authority (ESMA) published a final report on guidelines on the calculation of positions in securities financing transactions (SFTs) by trade repositories (TRs) under the Securities Financing Transactions Regulation (SFTR).
The report contains an assessment of the feedback received from stakeholders on an earlier consultation paper on draft guidelines on the calculation of SFT positions, and explains how ESMA took this feedback into account. The final guidelines are set out in the Annex to the report.
The guidelines provide clarification with regards to the compliance with Article 12(2) of SFTR, requiring TRs to collect and maintain details of SFTs, Article 80(4) of the European Market Infrastructure Regulation as referred to in Article 5(2) of the SFTR, setting out a general requirement for TRs to calculate positions, and Article 5 of the regulatory technical standards on data aggregation which specifically requires TRs to calculate positions in SFTs in a harmonised and consistent manner.
ESMA will publish the report and the guidelines on its website. The guidelines will be translated in all the official languages of the European Union.
The guidelines will apply from 31 January 2022.