DTCC did not anticipate client 'avalanche', says Broderick

Repository has apologised to clients caught in Emir reporting backlog

sandy-broderick
Sandy Broderick, DTCC Deriv/Serv

The Depository Trust & Clearing Corporation (DTCC) was not prepared for a late surge of interest in its European derivatives repository that left thousands of clients stranded when the region's reporting deadline took effect on February 12, according to Sandy Broderick, chief executive of DTCC Deriv/Serv.

Speaking to Risk in his first interview since the deadline, Broderick calls it "our major failure" and says the company has since apologised to its users.

"If I had my time again, my thoughts

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: