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07 September 2020

ICMA ERCC publishes fourth edition of its SFTR recommendations


The aim of the Recommendations is to help members interpret the regulatory reporting framework specified by ESMA and to set out complementary best practice recommendations to provide additional clarity and address ambiguities in the official guidance.

The ICMA European Repo and Collateral Council (ERCC) has published today an updated version of the ICMA Recommendations for Reporting under SFTR. This is the fourth public edition of the document, which was initially released on 24 February and previously updated on 30 June.

The aim of the Recommendations is to help members interpret the regulatory reporting framework specified by ESMA and to set out complementary best practice recommendations to provide additional clarity and address ambiguities in the official guidance. Now at close to 300 pages, the updated version of the guide covers a number of new questions, as well as additions and revisions to existing recommendations, partly to reflect members’ feedback and important lessons learned since the SFTR reporting go-live on 13 July.    

For ease of comparison, ICMA published, alongside the new guide, a blackline version which shows all the changes that have been made since the last publication in June. Going forward, the document will continue to evolve to reflect ongoing discussions in the ERCC SFTR Task Force as well as any additional guidance received from ESMA and/or the NCAs. Further updates will be made available on the ICMA website.

  • ICMA Recommendations for Reporting under SFTR (updated version: 7 September 2020)
  • Blackline version (showing all changes compared to the previous version published on 30 June)

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