DTCC users unable to access data after repository is overwhelmed

A tsunami wave

A tidal wave of interest rate trade data overwhelmed the service run by the Depository Trust & Clearing Corporation (DTCC) after new European reporting rules came into effect on Wednesday, leaving users unable to check information that had been sent on their behalf. "The trades could be reported but the issue was with the generation of reports containing the data for you to confirm and reconcile – there were delays in that process," says Olivier Bessi, a director at software vendor