Cappitech & Pirum SEC 10c-1a Solution

On October 13, 2023, the SEC voted to adopt a new rule, SEC 10c-1a regulation, to increase the transparency of securities lending transactions in the U.S. There are several key areas in the incoming regulation that will impact reporting requirements:

• Submissions need to be made to FINRA
• Lenders, Lending Agents or brokers (Only 1 side of the trade) are required to report
• Submissions are required by the end of day
• FINRA will publish anonymized data to the general public
• Reportable products include those currently required under CAT, TRACE & MSRB RTRS regimes
• A third party can be used to assist firms

S&P Global Market Intelligence Cappitech will continue to collaborate with Pirum Systems to deliver a reporting solution tailored to meet the unique requirements and workflows of the incoming SEC 10c-1a regulation.

The solution combines Cappitech’s rigorous data validation, event creation, and regulatory connectivity with Pirum’s UTI generation, exchange, and reconciliation abilities. to form an efficient and streamlined reporting solution.