DTCC Connection

Feb 21, 2017 • DTCC Connection

DTCC Delivers Simplified Pricing for TradeSuite ID and Omgeo CTM

By Michael Battaglini

DTCC Delivers Simplified Pricing for TradeSuite ID and Omgeo CTMDTCC has implemented a reduced, simplified pricing rate card, along with the introduction of additional billing tools and reports, for DTCC’s TradeSuite ID* clients and Omgeo Central Trade Manager® (Omgeo CTM) buy-side clients.

TradeSuite ID and Omgeo CTM are part of DTCC’s Institutional Trade Matching suite of services, and they deliver substantial efficiency and cost savings to firms through automated trade matching and confirmation between counterparties.

The new pricing model, which took effect in January, has significantly reduced the number of fee types, while at the same time, introduced additional savings for clients. Changes to the rate card include streamlining the number of billing events, triggers and chargeable items from more than 60 to fewer than 12 today.

The type of trade workflows fall into the following three categories:

- Standard, DVP/RVP and Prime Broker
- Executing Broker performing Prime Broker transaction
- Broker Custody (BRC)

Along with simplifying fee types and trade workflows, the updated pricing structure also included changes to certain TradeSuite ID fees. There is now one fee per trade, including confirm delivery, affirmation processing, auto-matching/enrichment and confirm archival.

“After reviewing our pricing structure, it became clear that it had become unnecessarily complex over time,” said Matt Nelson, Managing Director, Global Product & Strategy, DTCC. “We are confident that these changes provide much-needed clarity and transparency, helping clients better manage costs.”

Confirm Archive

Effective January 2017, Confirm Archive was included at no additional cost for both Omgeo CTM and TradeSuite ID trades. The Confirm Archive service provides electronic access to archived trade confirmations for trades matched using the Omgeo CTM and TradeSuite ID services with 10 years of history, and is provided by request or via online service. For clients paying for the Confirm Archive, the service is no longer being billed. All other clients have access to archived confirmations on a request basis initially, while client requests for the online service are being managed.

Billing Invoices & Analysis Tool

In addition to the new rate card, DTCC is also offering additional TradeSuite ID billing tools and reports for clients. This new tool, named Billing Analysis Tool (BAT), provides clients with an array of features to track fees and analyze costs more efficiently. This new tool provides:

  • Drill-down capabilities available to apportion costs
  • Ability to view billing data based on workflow and trade type (i.e. Standard, Executing Broker on EB/PB, Broker Custody)
  • Sorting capabilities by role of clearing members
  • Ability to measure operating efficiency (i.e., track SDA/affirmation rates)
  • Enable cost management analysis and internal cost allocation
  • Data output in standard Excel or PivotTable formats

“DTCC is working hard to provide additional value for our clients,” said Nelson. “These new billing reports and analysis tools will help clients understand and manage these costs.”

For more information on TradeSuite ID or Omgeo CTM, please contact matchingandsettlement@dtcc.com

*Several Omgeo services are subject to regulation by the U.S. Securities and Exchange Commission (“SEC”). Omgeo TradeSuite ID and Omgeo TradeMatch, which are U.S.-based electronic trade confirmation and central matching services, are subject to SEC regulation. Omgeo Central Trade Manager, which is a central matching service, is subject to SEC regulation when the service is used for trades in which either the broker-dealer or its institutional customer is a U.S. entity and the securities in the trade are issued by a U.S. issuer. The SEC regulation of Omgeo is set out in an SEC order granting an exemption from registration as a clearing agency to a subsidiary of Omgeo. The order is contained in SEC Release No. 34-44188; File No. 600-32; 66 FR 20494 (April 17, 2001).

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