DTCC to develop credit default swap warehouse

The Depository Trust and Clearing Corporation (DTCC) is developing a central trade information warehouse and support infrastructure to standardise how credit derivatives trades are processed across the industry.

The New York-based clearing and settlement company hopes the first phase of the new technology will be ready by mid-2006, and expects to eventually extend it to other over-the-counter derivatives products.

The warehouse will comprise a comprehensive database containing the 'golden copy