Depository trust & clearing corporation (dtcc)
The DTCC is taking nearly a month to match inter-repository trades, and corporates are concerned that they will shoulder the blame
Only 30% of inter-repository OTC derivatives and 3% of listed trade reports can be paired, conference is told – a problem stemming from the lack of trade identifiers
FSB is working with CFTC to clean and standardise derivatives data, and more international co-operation will be needed, says Patricia Mosser
The computational requirements of Solvency II are driving the need for more computing power and data storage accessible on a scalable basis. Early adopters are leveraging cloud computing for their Solvency II implementation. Others are taking a more cautious approach, waiting for the industry to address key concerns such as security before they to embrace computing.
More Depository trust & clearing corporation (dtcc) articles
Repositories face a "major challenge" to reconcile trades, ACT conference hears; executives call on Esma for guidance
Trade reporting in Asia has experienced fewer problems than in Europe but issues over secrecy provisions remain
Problems and challenges a natural part of the switch to Europe's new reporting rules, says Esma official
Missing trade and entity identifiers mean up to 60% of derivatives trades reported under the Emir regime cannot be paired with their corresponding halves, say trade repositories
Sandy Broderick, chief executive of the DTCC's repository service, says "our major failure" was not being ready for a late surge of clients that left thousands of accounts in a queue when Europe's derivatives reporting rules took effect last month
In response to industry fears of a collateral crunch, regulators have revised the proposed rules on margining for uncleared over-the-counter (OTC) derivatives.You can find out more by downloading this white paper here.