Barclays SFTR Client Delegated Reporting
July 2024
Barclays’ list of known material errors in the delegated trade reporting service potentially impacting the completeness and accuracy of reporting is listed below.
| Field Name | Description |
|---|---|
| Reference ID | This is an internal Barclays Reference, please quote this if you require any further information on this issue |
| Status | This will identify any new, open or closed issues |
| Field | Impacted field |
| Summary | Description of issue |
| Regulatory Body | Impacted Regulatory Body |
| Asset Class(es) | Asset Classes impacted |
| Regulatory Risk | Estimated % impact on overall trade volume (High >5%, Medium 1-5%, Low <1%) |
| Reporting Impact | Accuracy, Completeness or Timeliness issue |
| Publication Date | Date added to Portal |
Internal – Transaction Reporting
Reference ID |
Status |
Field |
Summary |
Regulatory Body |
Asset Class(es) |
Regulatory Risk |
Reporting Impact |
Publication Date |
|---|---|---|---|---|---|---|---|---|
TTRT-44776 |
New |
Non-commercial loans trades |
As per ESMA guidelines - "Corporate lending for commercial purpose" / "commercial loans" are not reportable. In OneReg, there is existing logic since SFTR Go-Live to suppress such trades, However, it is observed that current logic is not correct and we are suppressing genuine non commercial loans trades as well. |
EU SFTR |
Fixed Income Finance, Securities Lending |
Low |
Completeness |
May 2024 |
TTRT-45800 |
New |
'Availability of Collateral Reuse' |
Misreporting of Field 'Availability of Collateral Reuse' As per SFTR Validation rules if 'Type of Collateral Component' is populated with either 'SECU' then 'Availability of Collateral Reuse' field shall be populated 'True' or ' False'. |
EU SFTR UK SFTR |
Securities Lending |
Low | Accuracy | July 2024 |
| TTRT-45105 | New | Value Date | Rejection is seen on back of missing “Value Date” field in outbound message to DTCC. Barclays internal reporting system is not populating this field. | EU SFTR UK SFTR |
Fixed Income Finance, Securities Lending | Low | Completeness | June 2024 |
Disclaimer
Whilst you have appointed Barclays to carry out trade reporting on your behalf, pursuant to the provisions of EU SFTR and/or UK SFTR, you retain responsibility for ensuring that any reports submitted are accurate, and to check them for completeness. Clients with DTCC accounts are able to log on to check their trade reports have been submitted accurately. We encourage you to do this, and to let us know if you believe there are any errors in the reporting of your trades by contacting sftrdelegatedreporting@barclayscorp.com. For clients who have not previously opened a DTCC account please contact 'GTR Support' for service information and registration details. Further DTCC information on onboarding options for prospective clients can be found at: www.dtcc.com.
Barclays is unable to provide you with advice and, as a result, you should ascertain, using such advice as you deem necessary, your own regulatory obligations, including whether you should be notifying your local regulator of any errors which may have an impact on your trade reporting. Whilst Barclays is liaising with its relevant regulatory authorities regarding its own trade reporting obligations, this will not extend to your own trade reporting obligations.
© Barclays Bank PLC 2024.