MarketAxess' Trax to Begin Industry Testing for New SFTR Tool

Starting next month the vendor will allow testing for its UTI portal to help with SFTR compliance.


Trax, a subsidiary of MarketAxess, will be ready to start testing a platform that can generate a unique transaction identifier (UTI), a key requirement of the Securities Financing Transactions Regulation (SFTR), starting next month.

“People have not resolved how they can deal with sharing or generating of the UTI; generally, it is more on the sharing side of the UTI, they have not worked out a solution,” says Sunil Daswani, who looks after business development for securities lending and repo

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