The Depository Trust & Clearing Corporation (DTCC) has announced the introduction of Trade Reporting Analytics and UTI Exchange as integral components of its DTCC Report Hub service, bolstering its post-trade market infrastructure solutions for the global financial services sector.
DTCC Report Hub, a cloud-based platform, continues to empower financial institutions in navigating the intricacies of adhering to diverse derivatives and securities financing transaction mandates enforced across 14 international jurisdictions.
The new Trade Reporting Analytics feature within DTCC Report Hub offers reporting entities access to an extensive repository of over 100 data-driven insights pertaining to their own reporting practices. This tool enables firms to detect potential errors, recognize emerging trends, and assess their performance relative to anonymized industry peers. Notably, the capabilities of Trade Reporting Analytics have undergone thorough validation through a pilot program involving some of the world’s largest financial institutions, including J.P. Morgan, Nomura Americas Services, LLC, and Wells Fargo.
“As the industry continues to develop tools to focus on the quality of reported data we welcome the introduction of DTCC Report Hub’s Trade Reporting Analytics,” said Bill Hughes, Head of Operations, Americas, Nomura Americas Services, LLC. “The tool enables us to evaluate our trade and transaction data for accuracy, completeness, and timeliness across reporting regimes while tracking our performance against an anonymized peer group, a uniquely valuable benefit.”
DTCC Report Hub’s new UTI Exchange, delivered by API, supports the exchange of UTIs by counterparties as required by most major derivatives regulatory reporting regimes under existing rules and upcoming rules rewrites. Through a no-touch workflow UTIs can also be automatically enriched onto a trade and submitted using DTCC Report Hub’s Pre Reporting service.”
“As the industry leader in trade reporting, we are committed to driving efficiencies, mitigating risks, and mutualizing costs associated with regulatory compliance,” said Chris Childs, Managing Director and Head of Repository and Derivatives Services at DTCC. “The demand for pre and post reporting solutions has never been greater, and we remain committed to expanding DTCC’s trade reporting ecosystem and our service capabilities to support our clients’ evolving needs.”
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