Improving Efficiency, Mitigating Risk

DTCC’s Global Trade Repository Takes Top Honors at Regulation Asia Awards

By DTCC Connection Staff | Nov 28, 2018

GTR Takes Top Honors at Regulation Asia Awards
Oliver Williams, Executive Director and a Regional Head of DTCC’s GTR Business for Asia

DTCC’s Global Trade Repository (GTR) was named the Best Solution in Trade Reporting at the inaugural Regulation Asia Awards for Excellence 2018. The awards ceremony was held on Tuesday, November 13 in Singapore.

The inaugural Regulation Asia Awards for Excellence recognizes technology companies, legal and consulting firms, and exchanges that have shaped the regulatory landscape in Asia Pacific, as well as outstanding technology projects both in mature and emerging markets by large tech firms and innovative start-ups that help meet the requirements of a specific regulatory change infrastructure.

The GTR received the award following a rigorous selection process overseen by a panel of judges comprised of subject-matter experts and Regulation Asia’s editorial team. The methodology for choosing the best solution was based on the ease and speed of implementation, flexibility, robustness, scalability, transparency, technical support, cost and return on investment for clients.

The judging panel recognized the critical role that GTR plays in providing regulators with access to OTC derivatives data and driving down costs in financial markets.

“We’re very pleased and honored to be awarded the best solution in trade reporting,” said Oliver Williams, Executive Director and a Regional Head of DTCC’s GTR business for Asia. “This recognition reinforces the GTR as the industry’s provider of choice for global OTC derivatives reporting in Asia.

“We are committed to helping our clients meet their reporting obligations across all jurisdictions – within and outside Asia,” he added. “This is a journey that my team and I are happy to walk with our clients.”

GTR in Asia

Since setting up operations in Asia Pacific in 2013, the DTCC GTR team has been working with the industry and regulators to create not only a robust trade repository in the region, but also a community that has proactively engaged and collaborated with DTCC on their regulatory obligation journey.

Today, more than 400 clients report approximately 3 million open positions under the ASIC, MAS, JFSA and HKMA obligations per month to the DTCC GTR.

In August, the DTCC Data Repository Service (DDRS) team successfully launched the GTR re-architecture platform for ASIC and MAS clients with the goal of providing a simpler infrastructure with enhanced data access for clients. The judges found that the platform has brought improved usability, reduced complexity and increased transparency to clients now on GTR 2.0.

The GTR team in Asia has also been instrumental in helping reporting entities prepare for the latest phase of requirements under the Monetary Authority of Singapore (MAS), which in October made equity and commodity derivatives reportable for the first time, the panel said.

 

The awards panel also cited the GTR for significantly reducing the trade reporting burden over time by harmonizing data requirements across all major reporting jurisdictions and enabling market participants to meet multiple regulatory obligations from within a single platform.  In consideration of increasing demands for data and transparency, DTCC’s GTR also laid the foundation for making compliance with future trade reporting requirements simpler and easier, the judges said.



 

 

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