Mitigating Risk, Engaging Industry

Turning User Feedback Into Improved Market Insights

By Matthew Bergerman, Director of Product Management, DTCC Data Services | May 02, 2018

Turning User Feedback Into Improved Market Insights
Matthew Bergerman, Director of Product Management, DTCC Data Services

Three years ago, DTCC launched the Commercial Paper (CP) and Institutional Certificates of Deposit (CD) Data service, a solution that provided money market security participants with greater transparency into a historically opaque segment of the financial markets. Previously, there was no central source of information on the market, making it difficult to value a security or understand exactly which individual securities were being traded and at what volumes. Since its inception, the service has been used by firms to help research, trading, strategy and portfolio managers better understand activity of short-term money market instruments.

As more clients have subscribed to the service, we’ve heard feedback from users who are looking for even greater insights into the market. Hearing this feedback gave us an opportunity to explore how we could enhance the value of our service and deliver functionality that would resonate even more with our clients. To address this, we immediately began a dialogue to better understand their needs and quickly worked internally to turn those findings into action. At the heart of the matter was a simple adage, “our clients asked for greater market transparency and we listened.”

In April of this year, DTCC released an enhanced version of our CP and Institutional CD Data Service that not only gives clients the same critical understanding of liquidity and valuation of the market, but also provides additional issue and maturity data points. The enhanced data feed provides six new fields: country code, sector, term length (short or long), duration from issuance to maturity, calendar days from current date to maturity, and first settlement date of the security.


CPCD Chart



The new issue data elements may help clients answer important questions around characteristics of issuers and more easily compare them to peers, while the maturity enhancements may help users better understand the securities themselves, including when new issues have come to market and begun to settle, as well as their maturity horizon.

Understanding the needs of the industry and our clients through ongoing dialogue and collaboration is very important to me and my team. We’re always looking for opportunities to provide greater value based on client feedback. Our goal is to provide the best solutions to help the industry, and our clients, meet current and emerging challenges, and client feedback is a key part of that.

To learn more about DTCC’s CP and Institutional CD Data Service watch the video.

 

Matthew Bergerman, Director of Product Management, DTCC Data Services

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