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Securiti es Lending Market Report | June 2023

>>> SFTR Reporti ng Trends Between EU & UK >>> Single-Sided Reporti ng vs Dual-Sided Reporti ng

Fig 11 - DTCC Fig 12 - REGIS-TR, KDPW, DTCC EU, DTCC UK

SLEB Volume Lent Split EU vs UK Percentage of Loan Value Reported as Dual Sided Under SFTR

100%
20.00%
90% 18.00%
80% 16.00%
14.00%
70% 12.00%
60% Dual Sided Reporting 10.00%
8.00%
50% 6.00%
4.00%
40% 2.00%
0.00%
30%
Jul 22 Aug 22 Sep 22 Oct 22 Nov 22 Dec 22 Jan 23 Feb 23 Mar 23 Apr 23 May 23 Jun 23
20%
10%
EU UK
0%
Jul 22 Aug 22 Sep 22 Oct 22 Nov 22 Dec 22 Jan 23 Feb 23 Mar 23 Apr 23 May 23 Jun 23

DTCC EU DTCC UK

In previous ISLA market reports, we explained how data Referring to previous data, by June 2021 there was roughly For the last graph in our data series, we look at the In the above graph, we note an almost 2.5% drop in
was presented to highlight the relati onship between a 60/40 split between UK and EU respecti vely. This past percentage of single single-sided versus dual-sided EU single-sided transacti ons this year which of course
trading volumes in diff erent jurisdicti ons rather than overall year has seen some small change to that rati o which, reporti ng. The intenti on of looking at data from this represents an increase in dual-sided transacti ons, or EU
increases or decreases in acti vity. We have conti nued with as of June ’22 sits at 58/42, a very modest increase in perspecti ve is to observe supply and demand patt erns internal trading, a trend not mirrored in the UK data.
this approach in the above graphic to highlight any further the percentage of EU volumes relvati ve to UK reported between counterparts in various jurisdicti ons.
movement. transacti ons.