The UK Financial Conduct Authority (FCA ) has issued a full EMIR license to the trade repository REGIS-TR UK, which has been providing reporting services since January following Brexit.
The company was incorporated in March 2019, but its main firm is based in Luxembourg, which was first founded in 2010. The purpose of the UK branch was to provide services to British clients in the post-Brexit era.
Clearstream founded REGIS-TR as part of a joint venture with Iberclear. SIX acquired a 50% stake in REGIS-TR from Clearstream in September 2021, with completion expected in the first half of 2022. Iberclear, a subsidiary of SIX, will become the sole shareholder of REGIS-TR as part of the deal.
“We have had a successful start to UK EMIR reporting since it began in January 2021, and we are delighted to be the first TR to receive our full license from the FCA. In the interest of stability for both our clients and the market, it was a natural expansion of REGIS-TR to set up a TR in the UK prior to Brexit , and we have also been pleased to see how our offering has resonated with new clients as well as existing ones. We are looking forward to continuing this growth with a full license,” John Kernan, the CEO of REGIS-TR UK LTD, commented on the announcement.
When the branch was launched, Phil Brown, the Chairman of the Board of Directors at REGIS-TR, made the following statement: “The UK continues to be a major player in European and global finance even when separated from the EU, and it is paramount that we maintain continuous and unified services for our UK clients and the market.”
Cappitech Partnership
REGIS-TR is known for teaming up in 2020 with regulatory reporting and intelligence solutions provider Cappitech in connection with its partnership program.
