DTCC's automated over-the-counter (OTC) derivatives portal provides regulators world-wide with direct, on-line access to global data for Credit Default Swap (CDS) and Equity Derivatives. Through a selection process held by International Swap Derivatives Association (ISDA) and Association for Financial Markets in Europe (AFME), DTCC was selected as the preferred supplier to provide trade repository services for Interest Rates, FX and Commodities derivatives (in partnership with European Federation of Energy Traders (EFETnet). As these new offerings come online, this portal will provide regulators information aligned to their oversight authority for the jurisdiction, currency or entities they regulate. This portal aims to provide regulators access to cross-asset OTC derivatives economic data in a timely, fair and seamless manner, without any preferential treatment across geographic boundaries and home borders.

Overview

The portal serves regulators globally by providing them with standard and ad hoc data reporting on the derivatives market. The on-line portal offers central banks, market regulators and prudential supervisors access to various reports. For example, market and prudential supervisors have access to counterparty exposure, reference entity exposure data on a notional basis, as well as trade data. Central banks can view aggregate reports for largest financial institutions for the currency they regulate as well as currency concentration reports. The framework for the portal established for credit and equity derivatives are based on the data sharing guidelines outlined by the more than 50 regulators and supervisors worldwide that make up the OTC Derivatives Regulators’ Forum (ODRF). The portal will be expanded to support additional asset classes and regulator access will be provided in accordance with guidelines established for each or pursuant to mandatory reporting obligations pursuant to regulations in the relevant jurisdictions.

Tailored Views

The portal for CDS allows each regulator to access reports tailored to their specific needs as a central bank, market regulator or a prudential supervisor. The detailed reports are created for each regulator to show only the derivatives data to which they are permissioned within their jurisdiction, regulated entities or currency, at the appropriate level of aggregation. Regulators are able to search for transaction information by product or market participant. The data can also be viewed in the currency of denomination in which the regulator is domiciled. Examples of the information reports available to regulators via the portal include:

Standard Views

• Counterparty Exposure Report – buy/sell positions for the regulated entity aggregated by counterparty and underlying.
• Reference Entity Exposure Reports – buy/sell positions aggregated by underlying and counterparty.

Systemic Reports

• Aggregate positions where large financial firm is underlying.
• Aggregate positions of large financial firms.
• Currency aggregate open position report, by underlying.

Search Views

• Updated daily open trade search by participant or underlying reference entity. Future enhancements will enable transaction event search using latest available data.

Custom Views

• Specific report requests from a particular regulator will be produced and made available via this view.

Public Reporting

Since November 2008, DTCC has provided the general public with a significant level of aggregate trade information on the top 1,000 corporate and sovereign CDS reference entities and CDS indices. This information is updated every Tuesday after 5:00 p.m. ET (2200 GMT) and is accessible on DTCC.com.

Who Can Use the Service

The portal is intended to be available to market regulators, central banks and prudential supervisors. As of December 2011, nearly 40 regulators worldwide had signed on to use the portal pursuant to ODRF guidelines.

Benefits

The portal provides users with direct access to the information required to evaluate and protect against systemic risk in the market. DTCC’s central repository provides

data on OTC derivatives transactions so that regulators can view risk exposures from a central vantage point, providing a more accurate and complete picture of the global marketplace.

For More Information

Please contact RegulatorPortal@dtcc.com or visit DTCC’s website at www.dtcc.com