The Depository Trust & Clearing Corporation (DTCC) has announced the launch of enhanced Institutional Trade Processing (ITP) service, ITP Data Analytics.
According to DTCC, the new service includes analytical tools that enable Broker/Dealers and Investment Managers to measure and compare their operational performance against peers and industry standards. This replaces DTCC’s legacy Benchmarks service.
The new service also provides metrics and analyses on data points that is said to assist firms in preparations for the proposed move in the U.S. to a T+1 settlement cycle, and in the prevention of failed trade penalties under regulations such as Europe’s Central Securities Depositories Regulation (CSDR).
Matthew Stauffer, MD, Head of Institutional Trade Processing, DTCC President & Chief Executive Officer, DTCC ITP LLC, said the new modernized data service arrives at a critical time for the financial services industry:
“… when firms must begin preparing for the U.S. market’s move to T+1, and also comply with regulatory changes like CSDR. We are pleased to provide this comprehensive analytical tool to enable firms to gain new insights into their operational performance to gain a competitive advantage, while also prioritizing their clients’ needs.”