DTCC offers one-stop shop solution for securities financing transactions reporting

The Depository Trust & Clearing Corporation (DTCC) has partnered with Xceptor, a specialist in data-centric intelligent automation software, to enable clients to leverage Xceptor’s data transformation capabilities within DTCC’s Global Trade Repository (GTR) for Securities Financing Transactions Regulation (SFTR). 

The partnership is aiming to lessen the operational burden for firms’ by enabling them to enrich, normalise and validate data before submitting it to a trade repository. Firms will be able to enrich reporting with both internal and external reference data, manage exceptions leveraging native workflows, and benefit from real-time gap analysis and testing.
“With data being one of the main challenges of the SFTR obligations, DTCC provides clients with the ability to capture and normalise any data format from any channel and intelligently connect the right data, in the right format, at the right time,” says Val Wotton, Managing Director, Product Development & Strategy, Derivatives & Collateral Management, DTCC. “Our partnership with Xceptor will enable firms to significantly streamline their operational processes and help simplify the SFTR compliance process. We look forward to helping the industry prepare for SFTR in 2020.”
“SFTR places a huge importance on data quality and, with low reporting tolerances, the self-serving capabilities of the DTCC service, powered by Xceptor, will enable firms to get their data into shape while also being able to use existing trade file formats,” says Andrew Kouloumbrides, CEO, Xceptor. “End-of-day books and records reconciliation is also native to the new service ensuring that clients have full transparency of their submissions.”
“DTCC is excited to be partnering with Xceptor to simplify the SFTR reporting process,” says Marisol Collazo (pictured), Managing Director, Business Development and Global Head of Strategic Partnerships, DTCC. “We will continue to explore other opportunities with Xceptor to leverage its capabilities across our platform.”
DTCC created its first trade repository, the Trade Information Warehouse (TIW), in 2003 for over-the-counter (OTC) credit derivatives lifecycle processing. Today, GTR has become the largest trade repository in the world, processing 40 million open positions per week, and more than one billion messages per month for over 100,000 entities – brokers, buy-side firms and corporates in seven jurisdictions across 35 countries. More than 60 regulators around the world have access to GTR data, consistent with their regulatory privileges in each jurisdiction.

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