The Depository Trust & Clearing Corporation’s (DTCC) Global Transaction Services, a full-service straight-through-processing (STP) offering automating trade lifecycle events between firms, processed 817 million trades in 2015, up 16 per cent since the end of 2014.
Over 3,800 investment managers, broker/dealers and custodian banks around the world are leveraging the suite, with Asia-Pacific experiencing a 17% increase in new buy-side clients.
DTCC’s Global Transaction Services include three specific solutions: Omgeo Central Trade Manager (‘Omgeo CTM’) is DTCC’s strategic platform for the central matching of cross-border and domestic transactions; Omgeo OASYS (‘OASYS’) is DTCC’s US domestic trade allocation and acceptance service that communicates trade and allocation details between investment managers and broker/dealers; a cornerstone of the U.S. equity and fixed-income markets, DTCC’s Omgeo TradeSuite ID (‘TradeSuite ID’) delivers efficiency and cost savings to firms through automated electronic trade agreement between counterparties.
“As a user-owned and industry-governed utility, DTCC is committed to its core mission of protecting the stability and integrity of the global financial system, which means that every DTCC employee is laser-focused on mitigating risk, creating market efficiencies and reducing costs in the post-trade world,” says Paula Arthus, Managing Director and Head of Omgeo and Data Services, DTCC. “To continue providing value-added services to our clients that help secure and shape the future growth and development of the marketplace, we plan to build more interfaces with, and connections to, all major technology partners.”
In support of DTCC’s commitment to integration with technology providers, the business will collaborate with the firms recently approved by the Securities and Exchange Commission (SEC) to establish interoperability in the U.S. market. DTCC looks forward to working with these firms in order to insulate clients from complexity and costs that could be incurred in a fragmented market.
Matthew Nelson, Managing Director of Global Product and Strategy at DTCC’s Omgeo, says: “DTCC’s best-in-class solution, Omgeo CTM, delivers the highest operational efficiency for post-trade operations – with just one platform for multiple asset classes, including equity swaps and repos; the combination of a central matching workflow and industry messaging standards (FIX and SWIFT); leading to trade date matching rates of 95 er cent. DTCC offers high service availability, at 99.99 per cent and higher, as well as robust back-up plans that leverage DTCC’s world-class data centers, providing local, regional and out-of-region recovery capabilities.”
DTCC’s Omgeo Partner Programme announced a number of strategic initiatives in 2015, including partnerships with Imagine Software, Murex and SimCorp. Our clients benefit from global coverage; seamless post-trade workflows, faster support times and connectivity to over 70 leading front-, middle- and back-office platforms, including all leading OMS and EMS vendors.
“DTCC is focused on delivering solutions that address client needs and meet demanding industry requirements”, says Tony Freeman, Executive Director of Industry Relations, DTCC. “For that very reason, we place collaboration with the DTCC Advisory Councils, which are global client forums where strategic direction and priorities are agreed, at the front and centre of everything that we do. Our partnerships with industry bodies help to create standards and best practices, around areas including shortening settlement cycles – as we have seen recently in Australia and New Zealand, and where the US will follow in 2017.”
