Source: IHS Markit
IHS Markit and Pirum Systems acknowledge the 19th March announcement from ESMA to delay Phase 1 of SFTR reporting from April 2020 to July 2020.
Together, we remain fully engaged with our clients and other market participants and will continue conducting end-toend testing with each of the respective trade repositories. We are prepared to work through the challenging times ahead to ensure that the industry is ready to meet the obligations now scheduled for July 2020.
Given the combined challenge of managing COVID-19 workplace arrangements and volatile global markets, it is our view that this delay will allow all market participants more time to effectively test and prepare for SFTR reporting. Nevertheless, we remain committed to delivering a production-ready SFTR reporting solution by the end of March 2020 and our comprehensive support is available throughout the transitional period to Phase 1.