DTCC, the market infrastructure for the global financial services industry, announced the launch of DTCC’s OTC Direct Connect, a service providing seamless access to OTC derivatives transactions data that are reportable in the U.S. and Canada.
With OTC Direct Connect, investment professionals, data vendors, and business support teams who are “active in the derivatives markets gain access to a fast and frictionless data delivery solution helping subscribers manage market risks and trading risk factors in near real-time.”
OTC Direct Connect eliminates manual data collection methods, “providing scalability and automated access to DTCC Data Repository (U.S.) LLC’s (DDR) Public Price Dissemination Dashboard (PPD Dashboard) published data.”
Tim Lind, Managing Director of DTCC Data Services, said:
“This solution systematically and seamlessly disseminates OTC derivatives transaction data to interested parties. OTC Direct Connect improves transparency in the OTC derivatives markets, as intended by regulatory disclosure mandates, by providing subscribers with improved information access.”
OTC Direct Connect subscribers receive data “on Amazon Web Services (AWS) through AWS Data Exchange where clients can easily find, subscribe and use third-party data in the cloud. AWS Data Exchange also natively integrates with other AWS services for a frictionless experience, including Amazon Simple Storage Service (Amazon S3), Amazon Athena and Amazon Redshift, which can be used to streamline data storage and ingestion into a subscriber’s own systems and applications.”
Christopher Nardo, Product Management at DTCC, said:
“We are excited to announce the launch of OTC Direct Connect. OTC Direct Connect provides a seamless, low-friction experience with daily and intra-day updates.”
As noted in the update, DTCC Data Services offerings “provide referential and activity-based data provisioning that delivers fixed and configurable data solutions sourced from DTCC’s transaction, reference, position, and asset servicing data covering all major asset classes. As the largest depository in the world and the primary infrastructure in the U.S. for clearing, settlement and asset servicing, DTCC is a leading service provider to the financial markets and a trusted primary source for post-trade data.”
With 50 years of experience, DTCC is “the premier post-trade market infrastructure for the global financial services industry. From 20 locations around the world, DTCC, through its subsidiaries, automates, centralizes, and standardizes the processing of financial transactions, mitigating risk, increasing transparency, enhancing performance and driving efficiency for thousands of broker/dealers, custodian banks and asset managers.”
Industry owned and governed, the firm “innovates purposefully, simplifying the complexities of clearing, settlement, asset servicing, transaction processing, trade reporting and data services across asset classes and bringing increased security, enhanced resilience and soundness to financial markets.”
In 2022, DTCC’s subsidiaries “processed securities transactions valued at U.S. $2.5 quadrillion and its depository subsidiary provided custody and asset servicing for securities issues from over 150 countries and territories valued at U.S. $72 trillion.”
DTCC’s Global Trade Repository service, “through locally registered, licensed, or approved trade repositories, processes more than 17.5 billion messages annually.”