AccessFintech Partners With SIX to Offer CSDR Eligibility, Reference and Price Data

​AccessFintech and SIX​ announced a partnership to offer Central Securities Depositories Regulation (CSDR) eligibility and penalty data to their joint CSDR customers, solving for one of the major CSDR challenges - the sourcing of eligibility data.

A key part of this process is correctly determining the CSDR eligibility parameters of each trade using multiple data points – a process that will be automated and streamlined using SIX-provided pertinent data on the AccessFintech platform, for use by sell-side and buy-side clients.

The partnership will provide the market with the ability to seamlessly identify CSDR eligible trades and instruments, determine the market value in order to calculate the cash penalties, cash compensation, potential buy-in risk, and create a reliable single source for necessary price and reference data between the CSDs and their participants.

Commenting on the partnership, Heiko Stuber, Senior Product Manager, Financial Information at SIX said: "Financial market participants need to ensure they do not fall foul of CSDR when it comes into full effect in February 2022. The industry needs to be gathering the information needed to test the impact of settlement fails in a "CSDR-compliant" regulatory environment. Our partnership with AccessFintech will allow the visualisation and categorisation of the most up to date reference and pricing data. It will be a key factor for being compliant and a powerful tool for managing risk across the trade lifecycle."

Boaz Zilberman, EVP of Business Development at AccessFintech added: "Our partnership with SIX is an important step for our clients who must work out precisely which trades are eligible using a set of identifiers, which we will model together with SIX. Having this additional vital insight is the final piece of AccessFintech's complete CSDR lifecycle solution will enable the market to predict, track and manage CSDR risk and, communicate information, notices and actions, real time, across multiple stakeholders – all through a single interface, using our platform ecosystem."