The Depository Trust & Clearing Corporation (DTCC) says it has topped 2500 clients that are leveraging their Alternative Investment Product (AIP) .
The AIP service is a centralized trading and reporting platform that connects the alt investments industry to exchange data. The service includes money settlement for orders, distributions, and other financial activities.
Justin Schwartz, Executive Director, Product Management for Wealth Management Services at DTCC, said that AIP was created to modernize the alternatives industry to provide standardized transactions and reporting. The service is designed to lower costs for their customers.
DTCC is a post-trade market infrastructure for the global financial services industry. In 2023, DTCC processed securities transactions valued at U.S. $3 quadrillion.
As for the alternative investment sector this is a fast growing segments of securities as investors seek more opportunity for diversification especially in private markets.
