SFTR Reporting – Important Information on Self-Reporting
SFTR – UTI Generation Methodology
The Securities Financing Transactions Regulation (“SFTR”) requires counterparties (FC/NFC) entering into Securities Financing Transactions (“SFT”) to report specific information on each of their SFT transactions.
One of the required details is the Unique Trade Identifier (“UTI”) agreed by the counterparties to identify the report. For the SFT-s executed with Interactive Brokers (“IB”), IB will generate the UTI following a specific logic.
FC and NFC+ counterparties who do not delegate their SFTR reporting obligation to IB will be required to report on their own behalf to a Trade Repository using the UTI generated by IB.
Non-delegating counterparties can derive the IB UTI by following the below UTI generation logic and structure:
For Margin Lending (“ML”) transactions (including short positions)1 :
For ML executed before 07/18/2023:
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LEI of carrying IB entity + X + Client Account ID + ML
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SAMPLE: 5493001B9LDFCQUY9273XUXXXXXXML
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For ML executed on or after 07/18/2023:
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LEI of carrying IB entity + date of execution2 + Client Account ID + ML
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SAMPLE: 5493001B9LDFCQUY9273YYYYMMDDUXXXXXXML
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For Securities Lending (“SL”) transactions (SYEP)3 :
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LEI of carrying IB entity + Current date4+ X + Client Account ID + SL + IB Transaction ID pertaining to the SFT*
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SAMPLE: 5493001B9LDFCQUY9273YYYYMMDDXUXXXXXXSLXXXXXXXX
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*The IB Transaction ID will be included in your daily activity statement, within the area highlighted in the below screenshot. Please only include the numerical part of the ID in the UTI.
e.g. The UTIs for the first SYEP transaction for LGCYO will be
5493001B9LDFCQUY927320230101XU12345SL44019231 (considering current date as 1 Jan 2023 and client account ID U12345)
SFTR – Execution timestamp and event date
Execution timestamp
IB always executes SFT-s on T at 20:20 EST. As SFTR requires firms to report in UTC timezone, the execution timestamp will be populated as T+1 00:20 or 01:20 UTC depending on the daylight-saving time.
EXAMPLE: SFT executed on 2023-08-10 will be reported as 2023-08-11T00:20:00Z. Because of the timezone difference, the SFT is executed on T+1 per UTC time.
For ML the execution timestamp will always refer to the original date when the account first went into margin, i.e.: the timestamp is not changing throughout the lifespan of the SFT.
Event date and value date
Following the execution timestamp logic, the ‘event date’ should also be provided on a T+1 basis, i.e.: for events occurring on 08-10 the event date should be 08-11 due to the timezone difference. This applies to all action types (NEWT, MODI, COLU).
The ‘value date (start date)’ for SL should be equal to the date component of the execution timestamp, i.e.: execution timestamp = 2023-08-11T00:20:00Z then value date = 2023-08-11.
The value date field is not applicable for ML.
1Note: There will be one UTI for each client relationship generated on the day when the client account first went into margin or opened a short position.
2This is the date the client first went into margin or opened a short position.
3There will be a new UTI generated for each security loaned through SYEP each day.
4 For T+1 reporting this will be always T (i.e.: the date before the reporting date).