DTCC’s Institutional Trade Processing Product Suite Reaches ~One Billion Trades in 2016, Driving Market Efficiencies and Reducing Costs

Feb 8, 2017 Share this! LinkedIn logo Facebook logo Twitter logo Reddit logo Google+ logo
Date: 
Wed, 8 Feb 2017 11:15 America/Chicago

Readies industry for U.S. T+2 go-live in September 2017 and implementation of MiFID II in January 2018

Reduces prices and simplifies rates as well as billing transparency

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that its full-service institutional straight-through-processing (STP) suite of products, which automate trade lifecycle events between 3,800 investment managers, broker/dealers and custodian banks, processed close to one billion trades, for the first time, in 2016, including equities and fixed income trades as well as equity swap and repurchase agreement trades. 

“As a user-owned and governed firm, DTCC takes very seriously its role in advancing solutions that help to secure and shape the future growth and development of the marketplace,” said Paula Arthus, Managing Director and Head of Omgeo and Data Services at DTCC. “DTCC’s mission is to create market efficiencies and reduce costs, and that’s precisely what we’re doing with our institutional trade processing suite of products. We aim to provide value across our networked, global community – particularly as we gear up for the transition to a T+2 settlement cycle in the U.S. and the implementation of MiFID II in Europe. 

DTCC’s institutional trade processing suite of products includes: Omgeo Central Trade Manager (‘Omgeo CTM’), DTCC’s strategic platform for the central matching of cross-border and domestic transactions; Omgeo OASYS (‘OASYS’), DTCC’s U.S. domestic trade allocation and acceptance service that communicates trade and allocation details between investment managers and broker/dealers; and Omgeo TradeSuite ID (‘TradeSuite ID’), a cornerstone of the U.S. equity and fixed-income markets, which delivers both efficiency and cost savings to firms through automated electronic trade agreement between counterparties.

“DTCC recently introduced reduced pricing for clients who use TradeSuite ID and Omgeo CTM, plus a new, simplified rate card and billing transparency tool for TradeSuite ID users – enabling clients to significantly reduce costs and improve budgeting,” said Matthew Nelson, Managing Director of Global Product and Strategy at DTCC’s Omgeo. “We’re committed to delivering solutions that address our clients’ needs and to continuing to help mitigate operational risk wherever possible.”

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