DTCC Deriv/SERV LLC provides automated matching and confirmation services for over-the counter (OTC) derivatives trades, including credit, equity and interest rate derivatives. It also provides related matching of payment flows and bilateral netting services.

Deriv/SERV's customer base, which includes dealers and buy-side firms from more than 30 countries, is the largest of any post-trade service provider in the OTC derivatives marketplace. In 2006, Deriv/SERV processed a record 2.6 million transactions.

Deriv/SERV has already been an important driver in increasing electronic confirmation rates, while lowering the risk and cost of labor-intensive, paper-based processing. More than 80% of credit derivatives traded globally are now confirmed through Deriv/SERV, up from 15% in 2004. During 2006, DTCC also launched its global Trade Information Warehouse to bring increased accuracy, cost reduction and reduced risk to the post-trade processing of OTC derivatives contracts.

The warehouse maintains the primary record of each contract and handles the servicing of contracts over their lifecycle, which can extend for many years. Beginning with credit derivatives, this global infrastructure solution, which was developed in close collaboration with leading dealers and buy-side firms, is designed to be extended to
accommodate interest rate, equity and other OTC derivatives.

Services available:

• Credit Default Swaps Matching and Confirmation
• Equity Derivatives Matching and Confirmation
• Interest Rate Derivatives Matching and Confirmation
• Payment Matching, and Bilateral Netting
• Trade Information Warehouse