Despite the prolonged period between the final draft being published by Esma (March 2017) and the adoption process beginning (December 2018), the details of what has to be reported under SFTR for in-scope participants remains substantially the same. SFTs will need to be reported on a T+1 basis, with collateral to be reported on either T+1 or S+1 at the latest, depending on the method of collateralisation used. The reporting is dual sided with both parties to a transaction reporting their version of the SFT and having to use an agreed Unique Transaction Identifier (UTI) when reporting to a trade repository. The two reported transactions are then reconciled across a number of fields with minimal or no tolerances for differences. Many of the challenges associated with these requirements have already been widely discussed in industry forums and working groups. […]