ESMA Launches STS Register

Buy Side Responds to Esma on Clearing Swaps

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has launched its Simple, Transparent and Standardised (STS) Register for the notification of securitisations under the Securitisation Regulation.

The entry into force of the Securitisation Regulation on 1 January 2019 introduced an obligation for originators and sponsors to jointly notify ESMA and their National Competent Authorities that a securitisation meets the STS criteria for being granted the STS label. ESMA has put in place an automated process to facilitate these notifications, and makes them available in the new STS register.  The new STS register replaces the previous interim solution of an STS list on the ESMA website.

Verena Ross, Chair, said:

“The launch of ESMA’s STS register is an important step towards achieving greater efficiency and timeliness of the STS notifications to ESMA.  Our new STS register will allow originators and sponsors to benefit from an enhanced notification system. In addition, investors and supervisors will have improved access to individual STS securitisations to assist them in performing their respective due diligence and supervisory tasks.”

The interim STS notification still applicable to synthetic STS securitisations

Until further notice, originators and sponsors should still notify their synthetic securitisations eligible for the STS label using the interim STS solution. In those cases, the STS notification should continue to be sent to the following address: STSnotifications@esma.europa.eu.

For all technical questions that might arise in the context of the launch of the new STS register, please do not hesitate to contact ESMA using the following address stsregister_project@esma.europa.eu.

Source: ESMA

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