Growth in the Global Trade Repository’s user community enables firm to extend cost reductions to clients through efficiencies gained via utility approach
New York/London/Hong Kong/Singapore, 21 September, 2016 – The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that it will be reducing fees for its Global Trade Repository (GTR) service by up to 20% for clients leveraging the solution for Monetary Authority of Singapore (MAS) and Australian Securities & Investments Commission (ASIC) transactions. Total savings per individual client depends on volume and/or commitment term. DTCC was able to offer these pricing changes as a direct result of the growth of the GTR utility in its MAS and ASIC user community.
Initially introduced in 2012, GTR was established to help firms meet local and global regulatory requirements that called for increased transparency in derivatives trade reporting including those specified in European Market Infrastructure Regulation (EMIR), Dodd-Frank, and in Asia regulations. With over 7,000 firms around the globe and 500 in Asia alone, DTCC has become the world’s largest provider of trade repository services, providing new insights and perspectives to better monitor firm-, market- and systemic-level risk. The utility supports all five major OTC derivatives asset classes including credit, interest rates, equities, FX and commodities. It supports the ASIC & MAS reporting regimes as well as the U.S. Commodity Futures Trading Commission (CFTC), Canadian reporting across provinces, the European Securities and Markets Authority (ESMA) and the Financial Services Agency of Japan (JFSA) through locally registered trade repositories.
“We are pleased to see continued use of the GTR service across Asia, helping clients to address a critical compliance requirement,” stated Peter Tierney, Regional Head of GTR for DTCC in Asia. “Because of this community adoption and our utility model - where prices can be reduced as efficiencies are gained, DTCC is now able to offer price reductions of up to 20%. We look forward to continuing to work with our GTR community as regulatory reporting requirements continue to evolve.”
The GTR pricing change for ASIC and MAS transactions is scheduled to take effect on 1 October 2016.
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With over 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From operating facilities, data centers and offices in 16 countries, DTCC, through its subsidiaries, automates, centralizes and standardizes the post-trade processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers worldwide. Industry owned and governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management and information services across asset classes, bringing increased security and soundness to the financial markets. In 2015, DTCC’s subsidiaries processed securities transactions valued at more than US$1.5 quadrillion. Its depository provides custody and asset servicing for securities issues from over 130 countries and territories valued at US$45.4 trillion. DTCC’s global trade repository maintains approximately 40 million open OTC positions and processes roughly 280 million messages a week. To learn more, visit us at www.dtcc.com or connect with us on LinkedIn, Twitter, YouTube and FacebooK.