London Reporting House launches revolutionary repo data solution with global banks
London Reporting House launches revolutionary repo data solution with global banks
London, Monday 24 June 2024 – London Reporting House (LRH) today announced that, along with a number of participating banks from Japan, Canada and Australia, it has launched a new solution which, for the first time, provides an unrivalled, transparent and deep view of the global repo markets.
Operating via a ‘give-to-get’ model, LRH ingests clients’ Securities Financing Transactions Regulation (SFTR) data, which is then anonymised, aggregated, enriched and analysed to produce advanced analytics and insights for the front office, risk management and finance functions of banks and other financial institutions.
Danny Corrigan, CEO and Co-Founder, London Reporting House, commented: “We are delighted to launch this innovative new solution with several Tier 1 banks on board, and further financial institutions joining in the near future from the UK, Germany and Spain. We now have the critical mass of data to provide a new level of transparency to the repo markets. The improved price, rate and volume data should enhance liquidity, provide greater confidence and a clearer understanding of prevailing risks.”
Today’s launch offers the repo market a unique service that provides invaluable information for trading and risk management teams at a time when financial institutions are looking for enhanced transparency and data across all markets.
SFTR reporting has been in place since 2020. Banks, asset managers, hedge funds and other firms that trade in the UK and EEA repo markets are now mandated to report all their transactions to their respective regulators, via trade repositories, in a highly granular and consistent manner on a timely basis. Today, more than 140,000 repo trades with a cash value of over €4 trillion are reported every day. LRH is repurposing client’s SFTR data to serve client firms and the wider industry and represents an important step in creating a truly data-driven repo market.
Industry leader Godfried De Vidts is encouraged by this new market-led initiative, stating “More granular data will help participating banks better understand the market, supporting the move into data-driven trading. It will also provide insights, particularly in periods of volatility, contributing to financial stability in this ever more important short-term financing product.”
CEO of Kaizen, Dario Crispini, said, “Traditionally, there has been limited transparency in the repo markets. By working with LRH, clients can use information from their own reports to exploit the sunk costs of SFTR and be part of a solution that brings a new level of transparency to the industry.”
LRH’s service is available via the Kaizen Hub, a web-based RegTech platform for accessing and using a range of data, regulatory and compliance solutions.
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About London Reporting House
LRH was founded by a team of repo and SFTR specialists who identified an opportunity to bring a new level of transparency to repo market participants. Having access to granular, detailed and timely data is invaluable for making superior trading decisions and risk management. LRH’s repo analytics tools provide an unprecedented view into the market for front and back-office functions across the industry.
About Kaizen
Kaizen are regulatory and data specialists on a mission to revolutionise compliance and make it easier for financial firms to work with regulation.
By combining regulatory expertise with advanced technology, we’ve developed our multi-award winning automated services for trade and transaction reporting assurance, research and surveillance, shareholding disclosure and our Single Rulebook digital platform.
It’s our forensic focus on data accuracy that sets us apart and we are proud to call many of the world’s largest banks, asset managers, hedge funds and brokers as our clients.
Whether it is managing regulation, complying with market abuse regulation, reporting shareholding disclosures or reporting under ASIC, MAS, HKMA, MiFIR, EMIR or another G20 regulation, Kaizen helps clients reduce costs, improve data quality and meet their compliance obligations.
For more information, please contact James Dunseath, Communications Advisor, on +44 (0) 7557 955795 or media@kaizenreporting.com
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