Post-trade market infrastructure provider, the Depository Trust & Clearing Corporation (DTCC), has launched an enhanced fixed income security master file data offering, providing more data at a higher frequency.
The enhanced security master file, known as Corporate Fixed Income Premium Intraday Reference Data, contains more than 20 new data elements, including security description, bond duration, interest rate, coupon frequency, and details referencing whether the security is convertible, puttable or callable. The data is refreshed every 30 minutes, 23 times per day.
With the enhancement, firms now have access to an expanded data set on a timelier basis, enabling organisations to reduce front and back-office friction by leveraging security reference data required to process trades on newly issued bonds faster. Quicker data access also enables portfolio managers to ascertain portfolio composition, comply with portfolio holding guidelines (such as asset allocation), and inform trading opportunities.
In addition, firms can consider new issuances and security characteristics while making trading decisions. By expediting operational reference data creation and validation, firms can improve their operational processes, and lower cost and risk.
According to a press statement, DTCC’s Security Master File offers up-to-date and reliable information on securities eligible for servicing and processing at DTCC’s National Securities Clearing Corporation (NSCC) and The Depository Trust Company (DTC). The service contains data from NSCC and DTC, and is available from 6:15 AM to 5:15 PM ET, alongside one final end-of-day report at 10:15 PM ET. Corporate Fixed Income Premium Intraday Reference Data also offers a full security master file of all active corporate fixed income securities daily, from Monday to Friday at 10:30 PM ET.
