DTCC and Swift eye FX trade repository
New York-based group set to develop trade repository for every other OTC asset class and has pitched for foreign exchange in partnership with Swift
The chance the New York-based Depository Trust & Clearing Corporation (DTCC) will be selected to operate a foreign exchange trade repository appeared to increase last week, after it emerged the DTCC would develop the commodity derivatives trade repository, granting it a near-monopoly of the nascent business of trade repositories for over-the-counter derivatives.
The DTCC's Deriv/Serv unit has operated the trade information warehouse to hold a central record of trades in the credit derivatives
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