Calypso Technology has released an interface to the DTCC’s global trade repository service (GTR) for EMIR (European Markets Infrastructure Regulation) reporting.
DTCC’s GTR, which is one of the six TRs approved by the European Securities Markets Association, offers regulators transparency into the USD650trn OTC market.
The Calypso product is released in advance of the 12 February 2014 deadline for EMIR trade repository reporting for all asset classes. The module is an extension of Calypso’s OTC Clearing Solution for CCPs, clearing members and derivatives end users. It builds on Calypso’s DTCC GTR for Dodd-Frank reporting on OTC derivatives, delivered in 2012, for interest rate and credit derivatives as well as FX products. Key functionalities featured include intraday reporting of new trades, reporting of lifecycle events and price reporting (valuation).
“Calypso is helping our customers adapt to the dynamic requirements governing OTC derivatives today across diverse geographies and markets,” says Charles Marston, chairman and CEO of Calypso. “We are delighted to be working with market leaders such as the DTCC to bring industry standard services to our customers in a seamless manner.”
“As our strategic partner since 2005, Calypso enables UniCredit to react to the requirements of clients and regulators,” says Lorenz Engel of UniCredit Business Integrated Solutions, IT provider of UniCredit group. “The financial crisis altered the way we conduct OTC transactions today and the landscape in which we compete. Calypso gives us the agility to meet all markets shifts in terms of conventions and regulations. Together with Calypso we were able to implement Dodd Frank and EMIR reporting for UniCredit as well as for clients delegating their reporting to UniCredit.”
“DTCC is committed to helping establish a robust, comprehensive reporting infrastructure for the derivatives market globally. We work with innovative third party service providers like Calypso to build connectivity to our repository services, helping our mutual clients meet regulatory mandates in Europe and globally,” says Stewart Macbeth, CEO, DTCC Derivatives Repository Limited.