Jun 18, 2015
• DTCC Connection
DTCC Proposal to CPMI IOSCO on Global Data Harmonization
Marisol Collazo, DTCC Managing Director and CEO, DTCC Data Repository U.S., LLC (DDR)
In considering the global data aggregation challenge in the OTC derivatives market, DTCC has performed analysis to determine the critical global data fields that enable systemic risk analysis. We have assumed that systemic risk analysis is the primary driver for global data aggregation, since each jurisdiction only has access to its local trade repository data. To view global or regional data for other supervisory purposes, such as market abuse and enforcement, data aggregation becomes a necessity.
DTCC recommends that approximately 30 fields should be standardized across all trade repositories, including its Global Trade Repository (GTR) service, since these fields are important to the global monitoring of systemic risk. As a result, standard data definitions, values and formats must be developed for each of these fields.
View the Recommendations here
Read the Press Release here