The Depository Trust and Clearing Corporation has announced the formal launch of its Trade Information Warehouse, designed to reduce risk and automate post-trade processes in the over-the-counter derivatives markets.
The launch of the initiative follows a ten-month collaborative effort between the DTCC and 19 sell-side and buy-side firms. The utility is designed to take trades submitted over the DTCC's existing Deriv/Serv platform and provide a central support infrastructure to automate and standardise post-trade processes such as payments, notional adjustments and contract term changes.
The DTCC claims that 80% of credit derivatives traded globally are electronically confirmed through Deriv/Serv, up from 15% in 2004.
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