Firms face a significant challenge in the timely sourcing and management of all counterparty data to meet their obligations. A strict T+1 timeline, combined with a zero tolerance for the mandatory TR-level reconciliation, all emphasize the need for a robust data enrichment solution. Bloomberg offers data enrichment via both its VCON and OMS solutions for straight-through processing across the entire trade workflow.
Voice trading — VCON coupled with SFTR Enrichment Service
Bloomberg’s front-office voice trading tools encompass the entire process from negotiation to trade affirmation. Market participants using VCON for their bilateral and tri-party repo trades are already benefiting from structured trade confirmations and automated downstream processing. Our SFTR Enrichment Service integrates with VCON to share the data with the counterparty, automating manual processes while also capturing critical trade data as early as possible for SFTR reporting purposes. Bloomberg’s solutions also capture reference data fields stipulated in the Loan and Collateral data requirements for debt instruments and equities, across repo, buy-sell back and securities lending transactions. As well as capturing a fully enriched record of the data fields required, VCON, coupled with the SFTR Enrichment workflow, provides a one-way pre matching process to ensure a match at the point of execution/confirmation.
How does it help you meet SFTR data requirements?
- Unique Trade Identifier (UTI) - Execution timestamps - Trade economic data fields - Instrument reference data fields - Counterparty reference data fields
