On 25th November 2015 EU regulation 2015/2365 was published which requires reporting of Securities Financing Transactions (SFTs). This regulation also instructed European Securities Markets Authority (ESMA) to define the details of how such trades should be reported (known as Regulatory Technical Standard (RTS) and an Implementing Technical Standard (ITS)). The final versions of these documents were published in the EU Official Journal on 22nd March 2019 and entered into force on 11th April 2019.
Key information about NatWest Markets Plc and NatWest Markets N.V. (NWM), concerning Securities Financing Transaction Regulation (SFTR) is provided below. More details around this regulation can also be found in our useful links section.
NWM Compliance Date: 13th July 2020
Nature of Counterparty: Financial Counterparty
Legal Entity Identifier (LEI):
- NatWest Markets Plc is RR3QWICWWIPCS8A4S074
- NatWest Markets NV is X3CZP3CK64YBHON1LE12
- For all other NatWest Market entities, please contact us at the email address below
- All counterparties trading in scope securities financing transactions are expected to have an LEI as well to continue trading with NWM (see link to LEI).
Trade Repository Selection: DTCC Global Trade Repository
Unique Transaction Identifier (UTI) Generation & Exchange: NWM will adhere to the principles set out in the Final Report issued by ESMA on 31st March 2017 under Section 4.3.5. However in case of bilateral trades where none of the prescribed methods apply, NWM will generate and provide a UTI via existing confirmation methods
Pre-Matching: NWM are not intending to utilize a pre-matching service before submission to a Trade Repository
Mandatory Reporting: NWM N.V. is required to mandatorily report SFTs under Article 4.3 of Regulation 2015/2365, which requires financial counterparties to report on behalf of non-financial counterparties established in the EU whose balance sheets do not exceed the limits of at least two of the three criteria laid down in Article 3(3) of Directive 2013/34/EU (NFC-). Please note that under the UK SFT reporting regime, NFC counterparties established in the UK are not required to report SFTs, and accordingly mandatory reporting does not apply to them.
Currently NWM are reviewing whether to expand this delegated reporting service to a wider customer base. We continue to work with industry bodies to create a standardised single agreement to facilitate both mandatory and optional delegated reporting which we would look for customers to utilise.
If you are a NWM counter party please refer to the section below for "Important Information for Counter-parties".