The Industry's Choice for Regulatory Reporting Services

DTCC Data Repository (U.S.) LLC (“DDR”) is a CFTC-registered Swap Data Repository (“SDR”). DDR’s SDR Services will deliver to market participants a robust automated regulatory reporting solution for cleared and uncleared OTC derivatives reporting.

Mission Statement

DTCC Data Repository (U.S.) LLC is dedicated to bringing greater transparency, and resultant risk mitigation, along with cost efficiency to the global OTC derivatives market. Our services center on helping regulators attain a comprehensive view of the OTC derivatives market and providing market participants an effective solution for their trade reporting and regulatory requirement needs on a fair, open and equal basis.

Overview

The DTCC Data Repository (U.S.) LLC's SDR Services are the first step in a broader global trade repository service for which DTCC was selected after industry competitions held by ISDA and GFMA. DDR’s SDR Services provide regulators with the ability to monitor in a seamless and centralized fashion detailed transaction data needed to fulfill their regulatory mission to protect the financial system. The SDR services are designed to allow market participants to meet their reporting obligations under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203, H.R. 4173.)

On September 19, 2012, DDR received provisional approval from the Commodity Futures Trading Commission (CFTC) to operate a SDR in the U.S. for credit, interest rates, equities, and foreign exchange (FX) derivatives. On September 26, 2012, DDR submitted an amendment to its provisional registration with the CFTC to add commodities derivatives as an additional asset class. This amendment is currently pending with the CFTC.

The provisional approval allows DDR to operate as a registered SDR when reporting becomes effective. Under CFTC rules, the process of reporting trades in credit and interest rate derivatives to an SDR is scheduled to begin on October 12, 2012. Trades in all other derivatives classes will need to be reported 90 days after that, beginning in mid-January 2013, and trades between buy-side firms will be required to be reported beginning in mid-April 2013. The CFTC is one of the first regulatory bodies globally to require mandatory reporting of OTC derivatives trading.

Benefits

Designed with scalability and flexibility in mind, the SDR Services allow for industry compliance with current obligations and future regulatory initiatives as well. Each asset class can be independently aggregated to provide regulators (and the industry) a clearer and more complete snapshot of the market’s overall risk exposure.

DTCC’s traditional at-cost pricing model allows users to submit trades to the SDR Services and fulfill their regulatory reporting obligations under Dodd-Frank in a cost-effective manner. An additional benefit is DDR allows participants to utilize several connectivity choices when interfacing with the repository, including:

• Web-based, csv. upload – usually preferred for small volume users
• Webservices – geared for automation and higher volume users
• FTP and sFTP – batch file processing for higher volume users
• MQ (Message Queue) – FpML submissions – real-time solution for large volume users
• SWIFT Network – geared for automation and higher volume users

Trade submissions can be accepted directly from firms or through a third-party services provider. Several formats are supported, including FpML, CpML and CSV.

To align with current CFTC regulations, DDR supports the submission of Primary Economic Terms (PET) and valuation data. DDR also provides a mechanism for real-time price reporting. The CFTC regulations can be found at: http://www.cftc.gov/index.htm

The Swaps Data Repository service provides open access to third-party providers to promote efficient reporting processes – this includes:

• Swap Execution Facilities
• Designated Contract Markets
• Derivatives Clearing Organizations
• Confirmation Providers
• Middleware Providers

For additional information on DTCC's Swap Data Repository services, please send an email to: DDR-US@dtcc.com.