DTCC
Consulting
Services

Our Expertise. Your Organization.
Employees in a meeting

Improve Efficiencies,
Optimize Operations &
Drive Down Costs

For over 45 years, our clients have trusted us to solve some of the biggest issues facing the global financial services industry. This unique vantage point has enabled us to develop techniques and tools that can help drive innovation and transformation.

Our adaptable engagement model enables us to provide a suite of services to help address your specific objectives and your desired project environment.

Optimize Your Business Operations

Our Services

Diagnostics

We can assist with analysis, root-cause investigation and remediation proposals to help assess and address potential processing inefficiencies related to DTCC products and services.

  • Data quality assessment
  • Data integrity and root-cause analysis
  • Performance scorecards
Design

Assistance with analysis, definition and organization alignment on operating models and technical architecture for post-trade technology and operations.

  • Regulatory change impact assessment
  • Solution assessment and planning
  • Operating model design
Implementation

Planning, testing and coordination of activity related to the implementation of solutions using DTCC products and services.

  • Test strategy and execution
  • Implementation planning
  • Control frameworks and documentation
Project Management

Disciplined project management to oversee initiatives related to DTCC products and services by teams with deep experience in the subject matter.

  • Central project management office
  • Program assurance
Integration

Let us support you through your onboarding and integration journey. Learn more.

  • Project planning
  • Colloborative requirements identification
  • Interactive training

Meet the
Experts

No one knows DTCC's solutions better than we do. Recognized for our contributions in leading industry change and building market solutions, we can provide impactful front-to-back consulting, leveraging our industry relationships and expertise to offer a seamless and positive client experience. Meet the team.

Our
Differentiators

The Benefits of DTCC's Expertise

Industry Expertise

Industry Expertise

Extensive level of expertise, client service and industry knowledge

Deep Knowledge

Deep Knowledge

Deep knowledge of financial markets, regulatory regimes and cutting-edge technologies

Adaptive

Adaptive

Adaptive engagement model depending on your capacity and needs

Product Expertise

Product Expertise

No one knows our products and processes better than we do

Global Network

Global Network

Expansive global network of industry partners

Outsource Staff

Augment Staff

Augment specialized staff with expert tools and techniques

Proven Value

Optimize Value

Trusted because our expert tools, techniques and processes have driven value for both the industry and our clients

Our
Consulting
Services
In Action

Repository & Derivative Services

Trade and Transaction Reporting
Regulatory Readiness (SFTR, Brexit, CFTC, SEC, EMIR & Others)

Our clients face an array of new and changing regulatory requirements in the coming years including new SFTR and SEC requirements and foundational changes to existing CFTC and EMIR standards. Our teams of experienced consultants can help identify areas of improvement by performing impact analysis and providing feedback on new processes, systems and controls to meet changing standards based on our informed industry observations and our understanding of best practices.

The global reporting landscape presents challenges to all parties. On the one hand, there is a noticeable shift towards more global standardization, for example the moves to adopt ISO 20022, as well as initiatives such as the Common Domain Model (CDM). On the other hand, we see potential divergence of major regimes post Brexit; with the UK already showing signs of distancing itself from ESMA.

Businesses need to constantly scan the horizon for change and to engage with peers to anticipate how the industry is responding. There is a requirement to understand the impact on existing operating models and to minimize the impact of regulatory change, not just on those who report directly, but on their clients as well and to anticipate how changes could affect the business relationship.

We’ll help clients design solutions that enable them to meet identified regulatory expectations with as little impact as possible, and help embed controls aligned with industry standards and best practices.

There is significant burden on firms to stay abreast of upcoming change, both regulatory and market driven. Though our unique set-up we can help mutualize the cost of regulatory change, perform impact assessments and mobilize to respond to these events. Through our work with a multitude of clients (sell side, buy side and financial market intermediaries) we are well positioned to align firms with their peers in relation to their responses to these events*.

*Within the bounds of our confidentiality obligations

Trade and Transaction Reporting
Identify Improvement Opportunities by Benchmarking Against Peers and Accepted Best Practice

One of the hardest challenges for our clients can be identifying and prioritizing enhancements to existing reporting infrastructure, processes and/or controls. Our teams work closely with clients and any appropriate third parties to conduct meaningful diagnostics and analysis to help identify key risks and inefficiencies and to work collaboratively to assist in defining ways to remediate and/or improve operations leveraging both established and innovative techniques.

Data quality is critical to the success of trade and transaction reporting. Supervisors rely on quality data to perform their role and adherence to standards and alignment with peers is vital, especially in regimes where there is dual side reporting, such as ESMA. Inefficiencies in existing infrastructure and processes, or weaknesses in controls can lead to over or under reporting, with the potential for regulatory censure.

Our team can analyze data and conduct detailed diagnostics to highlight areas where trades are being misreported and can collaborate to help resolve gaps and inconsistencies that are identified using our methodology in adherence with industry standards.

Reporting performance can be monitored, including benchmarking and tracking progress towards improved data quality and consistency along with alignment to industry practices across reporting regimes.

We can also assist clients in evaluating the cost of regulatory reporting change and business-as-usual in relation to their peer groups, and performance in order to help them determine budgetary decisions on future regulatory reporting spend.

Straight-Through-Processing and Resilience

Recent market events have served to underline the importance of establishing effective business operating models that are capable of scaling seamlessly to respond to market volume ‘spikes’ and increasing client and regulatory demands for real-time information. DTCC is known, within financial markets, with efforts to increase automation and resilience. Through our Consulting Services team we can utilize these skills and experience to help our clients implement measures to reduce costs, increase efficiencies and reduce risks leveraging established techniques, methods and operational benchmarks. For many clients this will require a simplification of systems, processes and data models that have, in many instances, become increasingly complex and interconnected as a result of fundamental changes to the regulatory landscape, coupled with ongoing short-term cost-reduction initiatives.

The ability of an operational process to continue in the face of unusual, unforeseen or unpredictable circumstances needs to be considered holistically and incorporate people, process, location and technology. To design resilient processes requires deep practical experience of the interaction of the human and automated aspects of operational flows. It also requires an intuitive understanding and experience of what makes an operational flow optimal in a normal business-as-usual context as well as under stressed conditions.

There are many technical solutions available that make almost seamless technical scalability available if appropriate application designs and infrastructures are put in place. Human scalability is much harder to achieve and so straight-through-processing plays a key role in achieving the desired levels of resiliency. High levels of straight-through-processing along with an organization design which considers local as well as global disruption to the human aspects of a process flow make for a resilient process.

The operational resilience is then proven by testing against a set of pre-agreed scenarios and combinations of scenarios. Where possible these scenarios should be regularly physically tested and where not possible to test in this way, should be walked through and ‘role played’ in as close a parallel to reality as possible.

Our team has the depth and breadth of experience to help you design and implement scalable and resilient processes. Their many years of experience of leading operational and technology organizations brings a practical perspective to what can be theoretically achieved. Where resilience is concerned, both are critical.

Institutional Trade Processing

CSDR
Regulatory Readiness

The Central Securities Depositories Regulation (CSDR) rules have had a major impact on the way in which financial markets and market participants behave. With the latest changes relating to the Settlement Discipline Regime (SDR) on the horizon, our team of experienced consultants are able to work with our clients to perform detailed impact analysis and process reviews to help clients to design and implement robust solutions that aim to ensure they are ready to adhere to new operating standards.

Implementation of the SDR aspect of CSDR remains imminent and penalties for trade failures will likely have a material impact on transaction profitability. While market sentiment and expectation points to February 2022 as the implementation date, the time available needs to be used wisely and it can be all too easy to de-prioritize essential preparation and process improvements. Post-trade processes need to be analyzed, with settlement efficiency being the driver behind the implementation of this regulation.

There is a requirement to initiate focus on two key areas as we understand it: 1) Prevention: by automating confirmation and matching, generating consistency within business rules and recognizing counterparty requirements, particularly in relation to place of settlement. 2) Resolution: through implementation of a visible end to end trade lifecycle with knowledge of cause and responsibility of any exception that has led to settlement failure.

Our consultants can undertake a detailed gap and impact analysis of clients pre-settlement process to help them identify areas to mitigate the risk of trade failure. We are able to guide clients in their use of DTCC products and services to prevent settlement failure.

Should a fail occur, our experts solutions will work to provide clients with the optimal visibility to enable swift resolution of any fail. We will provide knowledge and guidance to clients, regardless of their role within a trade lifecycle, assisting with their aim of achieving 100% settlement success.

Post-Trade Processing
Identify Improvement Opportunities by Benchmarking Against Peers and Better Business Practices

The changing market landscape for post-trade processing has required organizations to make fundamental changes to the way in which they process trades and manage data. Our teams of experienced consultants are able to help identify where risks and/or inefficiencies lie across the trade lifecycle from matching and confirmation to margin and settlement. Our consultants can help create effective solutions to underlying issues and help deliver meaningful improvements.

New regulations and changes to business models result in firms having to constantly review and maintain the operating model and processes covering the whole trade lifecycle. Inter-related regulations impact all areas of trade processing from execution to maturity. Data quality, alignment to best practices and the ability to respond in a timely manner to all events is critical in all post-trade touchpoints.

Our team has a thorough understanding of the post-trade lifecycle and can help clients’ make informed decisions on whether their processes and controls are fit for purpose and if they have the resilience to deal with the ever-changing landscape of regulations and industry initiatives. We cover all aspects of post-trade-events, including confirmation, settlement, margining, clearing, and compression.

Our consultants can analyze processes and help to capture better industry practices, including the provision of benchmarking and tracking metrics to show how clients are performing against the industry. We can also help test the adequacy of clients’ controls.

We are uniquely positioned to provide market wide insights on benchmarking and peer analysis for our clients, given the industry use of our products such as ALERT, CTM and DXM. Our experts can help through provision of targeted improvement programs incorporating the effective use of DTCC products.

Straight-Through-Processing and Resilience

Recent market events have served to underline the importance of establishing effective business operating models that are capable of scaling seamlessly to respond to market volume ‘spikes’ and increasing client and regulatory demands for real-time information. DTCC is known, within financial markets, for efforts to increase automation and resilience. Through our Consulting Services team we can utilize these skills and experience to help our clients to manage costs, increase efficiencies and reduce risks leveraging established techniques, methods and operational benchmarks. For many clients this will require a simplification of systems, processes and data models that have, in many instances, become increasingly complex and interconnected as a result of fundamental changes to the regulatory landscape, coupled with ongoing short-term cost-reduction initiatives.

The ability of an operational process to continue in the face of unusual, unforeseen or unpredictable circumstances needs to be considered holistically and incorporate people, process, location and technology. To design resilient processes requires deep practical experience of the interaction of the human and automated aspects of operational flows. It also requires an intuitive understanding and experience of what makes an operational flow optimal in a normal business-as-usual context as well as under stressed conditions.

There are many technical solutions available that make almost seamless technical scalability available if appropriate application designs and infrastructures are put in place. Human scalability is much harder to achieve and so straight-through-processing plays a key role in achieving the desired levels of resiliency. High levels of straight-through-processing along with an organization design which considers local as well as global disruption to the human aspects of a process flow make for a resilient process.

The operational resilience is then proven by testing against a set of pre-agreed scenarios and combinations of scenarios. Where possible these scenarios should be regularly physically tested and where not possible to test in this way, should be walked through and ‘role played’ in as close a parallel to reality as possible.

Our team has the depth and breadth of experience required to design and implement scalable and resilient processes. Their years of experience of leading operational and technology organizations brings a practical perspective to what can be theoretically achieved. Where resilience is concerned, both are critical.

Employees engaged in discussion
Coworkers discussing solutions

News &
Insights

Press Release
Oct 7, 2020

DTCC Launches Consulting Services to Support Firms as Post-Trade Ecosystem Continues to Evolve

DTCC, the premier market infrastructure for the global financial services industry, today announced the launch of DTCC Consulting Services, a new advisory service to provide market participants around the world with unparalleled access to the firm’s expertise and experience in post-trade processing.

Regulation
Aug 18, 2020

SFTR Represents “Sell-Side Success Story”

DTCC's Val Wotton discusses why sell-side implementation for SFTR has been a successful trade reporting launch. Key factors include strong project governance and a defined target operating model, with holistic data governance and technical architecture.

Regulation
Aug 10, 2020

CSDR Priorities and Solutions for the Buy-side

DTCC's Matt Johnson discusses the need for CSDR preparation. Although SDR implementation may be delayed, the time available should be used for operating model impact assessments, planning for the efficient handling of failed transactions and mitigation against trade failure.

Industry Advocacy & Initiatives
Jul 14, 2020

An Appeal to the Industry: Let's Come Together on Margin Call Automation

DTCC's Tim Keady calls the industry to act with some urgency in relation to the need for automation of margin calls and collateral processes.

Risk & Resiliency
Jul 7, 2020

What's the Next Normal in Post-Trade?

The market volatility brought about by the pandemic has heightened the value of a no-touch workflow for post-trade processing – to enable trades to be agreed, matched, processed and settled on a single platform. Now is an excellent opportunity to leverage the right processes and tools to succeed in the post-pandemic world.

Risk & Resiliency
Aug 14, 2020

Powering the Business With Resilience: DTCC's Chief Security Officer Stephen Scharf

Setting security strategy for a global operation can require a comprehensive approach that includes alignment with business priorities—especially when the organization's mission is to support the smooth operation of global financial markets.

Industry Advocacy & Initiatives
Jul 21, 2020

Leading Dealers and Buy-Side Firms Join DTCC Margin Transit Utility Community

DTCC announced that its Margin Transit Utility (MTU) community has grown to 50 firms representing thousands of Credit Support Annexes, with users including leading dealer and buy-side organizations around the world.

Industry Advocacy & Initiatives
Aug 6, 2020

Implications of Diverging Settlement Standards

Since the launch of the Shanghai-Hong Kong Stock Connect in November 2014, Chinese regulators have announced a number of significant market-access reform schemes to attract more capital inflows from global investors.

Industry Advocacy & Initiatives
Jul 29, 2020

The Covid-19 Effect: Why Automation in the Margin Call Process is More Important than Ever

Over the past several months, the entire financial industry, and the world, has had to radically adjust how we work together. This is especially true with crucial functions like managing margin calls.

Risk & Resiliency
Aug 7, 2020

In-Conversation with Chan Boon-Hiong, Deutsche Bank AG: Managing the COVID-19 Disruption, Part 1

As the financial services industry continues to adjust and transform in response to critical challenges prompted by COVID-19, firms are now racing ahead to reassess and rewrite evolving operating models in preparation for future disruptions.

Risk & Resiliency
Aug 7, 2020

DTCC's Andrew Gray, Group Chief Risk Officer: Mitigating Risk With an Eye Toward Innovation

Evolving the company's risk management framework to respond, recover, and thrive in new environments is one tenet of Andrew Gray's strategic vision; embedding intelligent resilience into the company's operations is another.

Regulation
Jul 21, 2020

Preparing the Buy-Side for SFTR

DTCC's Chris Childs discusses what the firm is doing to help the buy-side gear up for compliance with this complex new mandate.

Risk & Resiliency
Jul 28, 2020

A Call For Industry Coordination Around DLT Security

As the financial services industry moves toward an ever-greater dependence on technology, we must always keep an eye on the future to ensure that any new technological advancement or implementation delivers the same, if not better, benefits and risk management capabilities.

Risk & Resiliency
Aug 3, 2020

Enhancements to DTCC's Risk Management as a Service

Greater transparency empowers DTCC's clients to make better decisions for their portfolios.

Industry Advocacy & Initiatives
Jun 24, 2020

Borrowing Time: Industry Must Converge on Margin Call Automation

Adopting automated margin call processes is a clear and proven method of preparation, which should be implemented without delay. This straightforward solution will result in a stronger industry that is better prepared for the challenges the next crisis brings.

Risk & Risiliency
Jul 27, 2020

Buyside Life In The Time of a Pandemic

“The buyside is focusing on the challenges ahead leading them to reallocate their resources to ensure that they are prepared for a potential second wave of disruption,” says DTCC's Matt Stauffer.

Risk & Resiliency
Jul 20, 2020

Asset Manager Viewpoints on COVID-19: Automate or Get Left Behind

A test of operational resilience, COVID-19 essentially requires firms to quickly adjust and update existing business continuity and disaster recovery plans to manage the impact that is unique to the pandemic.

Regulation
Jun 3, 2020

The Voice of the Buy-Side: Assessing the Compounding Impact of New Regulations

DTCC surveyed our 300 cross-industry webinar attendees to get the view from market participants themselves on how SFTR, UMR and SFTR will impact the buy-side community.

Regulation

Shifting sands: How SDR will change the relationship between outsourcers and clients

“Communication, automation and the division of labour are key to outsourcers and clients maintaining a good working relationship”, shares DTCC's Matthew Johnson.

Risk & Risiliency
Jul 17, 2020

Addressing Operational Gaps to Future Proof for Crises

Although the pandemic has also created resourcing issues, prioritising initiatives that automate and increase efficiency in post-trade are further supported by the need to comply with the upcoming regulations.

Risk & Resiliency
Jul 15, 2020

Clearinghouses help stabilize financial markets during COVID-19 – here's how

Clearinghouses played a significant role in providing stability for financial markets during COVID-19. The success of their preparedness efforts could serve as an example to other sectors and industries needing continual investment in continuity and other protection measures.

Regulation
Jul 6, 2020

The Buy-Side Braces for a Tsunami of Regulation in 2020 and Beyond

Global Custodian sat down with DTCC executives to discuss key client priorities and available solutions as firms prepare to manage the regulations coming through the pipeline in the months ahead.

Regulation
Jul 14, 2020

Securities Financing Transactions Regulation: Practical Implementation to Overcome Remaining Hurdles

It is generally recognised that sell-side firms are as ready as possible for the go-live of SFTR. Although some known challenges remain, these issues will only be resolved through practical implementation.

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Ryan Baccus

Ryan provides leadership and oversight for the delivery of DTCC Consulting Services. He has held leadership roles in a number of major financial institutions and consulting organizations in financial services. Ryan brings with him a unique approach to project delivery, which places enhanced emphasis on client success and collaboration to achieve meaningful outcomes.

Ryan began his career in financial services working in Operations, leveraging his earlier Technology experience to deliver initiatives to automate and streamline business processes. His delivery record includes complex, industry-wide programs on behalf of major financial market infrastructure providers, global vendors and industry associations. Ryan prides himself on the experiences he has gained delivering global projects across a diverse set of client types, objectives and stakeholders. These projects have helped him shape his delivery approach, which includes holistic planning, adaptable delivery techniques and a commitment to always delivering a high-quality end-product.

Ryan has operated as a trusted adviser for several DTCC projects, including Repository and Derivatives Services (RDS) and Intuitional Trade Processing (ITP) initiatives, combining a deep understanding of DTCC products with a practitioner view of the capital markets to help develop innovative solutions.

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Simon Rees-Goddard

Simon leads the Sales and Relationship Management function of DTCC Consulting Services. He has worked at a number of major global financial institutions, honing his skills in Program Management, before moving on to roles that allowed him to exercise his enthusiasm for developing client relationships. Over the course of his career, Simon has gained a deep understanding of the financial markets post-trade environment through his extensive work with banks, custodians, vendors, the buy-side community and trade associations.

Recently Simon founded several successful consulting businesses specializing in financial services. He is responsible for the development of major client portfolios, managing global senior Sales and Marketing teams, and delivering sustainable long-term growth.

Simon has worked with DTCC in various capacities over the last 15 years to help deliver some of its more complex initiatives including the launch of the Trade Information Warehouse (TIW) and the Global Trade Repository (GTR) service.

During this time, Simon has also served as a Board Member, Founding Member and Leadership Team member for the Derivatives Consulting Group, Sapient Global Markets and base60 Consulting respectively.

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Keith Pritchard

Keith leads the service capability and delivery for DTCC Consulting Services. As a technologist with over 30 years' experience working with some of the largest financial institutions, he has seen the industry change from manual processing, through multiple phases of automation and hardware commoditization, to realizing data as the next driver of innovation. His breadth of knowledge across the trade lifecycle and it's complex operational and technical issues allows him to pinpoint opportunities to harness technology to transform the post-trade landscape.

Keith has leveraged his experience as a technology leader to move organizations to an enterprise agile methodology to manage change. He has also spearheaded the pragmatic use of innovative technologies to solve business problems and add value.

As a former DTCC client, Keith has an extensive understanding of DTCC's products and services. He spent many years as an active member of the DTCC Technology Advisory Council, advocating for the use of innovative technologies.

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