ATP joins clients successfully live on SimCorp’s cloud-based SFTR solution, as the regulation enters its third phase

January 19, 2021

Press Release

SimCorp, a leading provider of integrated, front-to-back, multi-asset investment management solutions and services to the world’s largest buy-side institutions, today announces the successful go-live of ATP, Denmark’s largest public pension fund, on its SFTR solution. ATP’s go-live coincides with the reporting start date for the third phase of SFTR, on January 11, where it joins several SimCorp clients who have smoothly transitioned to the cloud-based regulatory reporting platform, and successfully automated reporting to their chosen Trade Repository.  

The implementation carried out by SimCorp, fully remotely, as a result of COVID-19 restrictions, ensured ATP could carry out test operations, maintaining operational efficiency and business continuity ahead of the third wave, in already tumultuous market conditions. The go-live sees SimCorp supporting ATP with reporting for repos and buy sell-backs, tri-party repo collateral managed by Euroclear, and collateral re-investment. With fluid integration to Euroclear’s assisted reporting service for tri-party collateral, ATP can automatically submit SFTR reports across their full security financing business, without manual interventions.

Morten Holst Kruse, Head of Business Systems at ATP comments: “We are pleased to have implemented in what has been a fast and fully-remote process, and with comprehensive user testing effectively completed in December, well ahead of the third phase. ATP has already seen the benefits of SimCorp’s SFTR solution in production, including high quality, automated reporting. What has been particularly valuable, is the ability to integrate our tri-party repo collateral and reporting of re-used collateral, which efficiently consolidates the process for the business and provides a complete picture to the regulator”.

With regulatory reporting being a critical concern for buy-side firms operating in Europe, the last 12 months has placed a crucial demand for decision-making on how to approach SFTR reporting . While many firms are busy settling into their chosen approach and ironing out the kinks, the end of the transition period for Brexit has added a new pressure for some. With clear implications for many UK firms and their SFTR reporting, it poses an altogether different operational minefield. To alleviate this, SimCorp’s platform is offering clients support for the on-shored SFTR UK regime reporting, enabling them to report automatically and seamlessly in both jurisdictions, the UK and the EU.