DTCC was honored with two awards at Regulation Asia’s 5th Annual Awards for Excellence ceremony in Singapore.
Market Infrastructure of the Year
DTCC was recognized for its Global Trade Repository (GTR) service, which supports the reporting of over-the-counter (OTC) and exchange-traded derivatives (ETD) credit, equity, commodity, FX and interest rates derivatives to over 60 regulators in 35 countries through its locally authorized trade repositories.
User-owned and industry-governed, DTCC GTR’s open-access utility model enables firms to meet reporting requirements in multiple jurisdictions through one single, secure portal. The Regulation Asia Awards judges credited DTCC for its client-centric approach to GTR product delivery and its continued focus on initiatives that enhance efficiencies and reduce cost.
Over the past 18 months, DTCC completed a GTR infrastructure re-architecture to enhance platform performance, stability and resiliency, rolled out an automated self-service onboarding tool in Asia Pacific, and enhanced the user experience by providing firms with consolidated access to DTCC services via the MyDTCC portal and direct electronic access to data and analytics within its repository.
Commenting on the win, Priya Kundamal, DTCC General Manager, Head of DTCC Data Repository, Singapore (DDRS), said, “The award is especially meaningful to the GTR team as this year marks our 10th year of providing trade repository service to market participants in Asia Pacific. Our goal remains unchanged – to provide best-in-class support and client service in the reporting of over-the-counter derivatives transactions.
Kundamal praised the DDRS team’s efforts adding, “Thanks to the unwavering commitment and dedication of our team, we are not only able to celebrate this win but also 10 years of success in helping to address some of the reporting firms’ biggest operational, regulatory, and business challenges. This award belongs to all of us at DDRS.”
Best Solution in Trade Reporting
DTCC was also recognized for its DTCC Report Hub solution, which simplifies and automates pre- and post-trade reporting capabilities for compliance with regulations under 14 jurisdictions globally. The solution translates trade data into the required format, enriches it, provides jurisdiction eligibility checks and identifies errors and missing data elements. Post reporting, the solution offers reconciliation and data insights capabilities to check for reporting accuracy, timeliness and completeness.
On securing industry recognition for DTCC Report Hub, Oliver Williams, DTCC Executive Director and APAC Advisor, Repository and Derivatives Services, said, “We are very pleased to receive this award as it serves to affirm that the industry needs a solution like Report Hub to help firms alleviate the burdens associated with building and supporting complex systems to address changing regulatory requirements and eliminating the need to build in-house data capabilities.”
Williams added, “We are looking forward to leveraging the breath of our offering, the resilience of the platform and the depth of our expertise to reduce the risk for regulatory reporting. Winning this award is only made possible with the support of our clients and team in Asia and I am especially thankful to be working with a great team.”