The ITP Story

The Evolution of Institutional Trade Processing

Our collaboration with the financial services industry has inspired innovations such as the first electronic allocation engine, the first settlement instruction database and the first central matching service for the global capital markets. It is a history of success we continue to build upon.

Local Matching -> Central Matching -> No Touch Processing

Learn More About Our History

1978

The ITP story begins when the Depository Trust Corporation (DTC) began developing what we know today as TradeSuite ID and Trade Matching to provide automatic electronic trade confirmation between counterparties.

1988

The Electronic Settlement Group (ESG), under Thomson Financial (now Thomson Reuters), conceptualized the idea of creating a straight-through-processing post-trade platform for all markets and asset classes and began to develop OASYS, the first electronic order allocation system.

1993

Thomson ESG developed ALERT®, what would become the industry's largest and most compliant online global database for the maintenance and communication of account and standing settlement instructions; it was the very first settlement instruction database of its kind.

1997

Thomson Financial conceptualized Intelligent Trade Management for cross-border central matching platform, as part of a contest held by the Global Straight Through Processing Association (GSTPA).

2000

Thomson Financial and DTCC came together to create the joint venture Omgeo, as a home for all post-trade services. Thomson Financial provided ALERT and OASYS while DTCC brought TradeSuite ID and Trade Matching.

2001

OASYS TradeMatch linked OASYS allocations to the TradeSuite ID confirmation process to create the first US central matching service. The concept of Intelligent Trade Management led to Omgeo's launch of Central Trade Manager (CTM™), a true cross-border central matching platform.

2012

DTCC launched its legal entity identifier (LEI) solution, the Global Markets Entity Identifier (GMEI) Utility, which was designed to provide a single, universal standard identifier to any organization or firm involved in a financial transaction internationally.

2013

DTCC completed its 100% acquisition of Omgeo from Thomson Financial. With the closing of this transaction, Omgeo became a fully owned subsidiary of DTCC, allowing DTCC to expand its global footprint, advance innovation and continue to reduce risks in post-trade processing.

2015

Omgeo announced its first Global Custodian live with the ALERT Global Custodian Direct (GC Direct) workflow, marking a significant milestone as ALERT was evolving into the industry’s SSI Utility, enabling global custodians to update, maintain, and manage SSI data electronically for the first time on behalf of their buy-side clients.

2016

DTCC announced that its institutional straight-through-processing suite of products including CTM, OASYS, and TradeSuite ID processed close to one billion trades in one year for the first time. This included equities and fixed income as well as equity swap and repurchase agreement trades.

2017

DTCC rebrands Omgeo's post-trade suite of products to Institutional Trade Processing (ITP). Combining DTCC's global solution for legal entity identifiers and its US settlement capabilities with the formerly Omgeo-branded post-trade matching services and pre-settlement functionality, ITP offers buy-side, sell-side and custodian firms an end-to-end straight-through-processing solution for their trading activity.

2018

DTCC announced the launch of DTCC Exception Manager as an addition to its ITP product suite, enabling market participants to publish, manage and communicate exceptions throughout the trade lifecycle.

2020

DTCC fully integrates the Margin Transit Utility (MTU) into ITP to help clients improve settlement efficiency and reduce operational complexity and risk for collateral call processing.

Why re-imagine post trade processing now?

DTCC’s collaboration with the financial services industry has inspired innovations such as the first electronic allocation engine, the first settlement instruction database and the first central matching service for the global capital markets. It is a history of success we continue to build upon. We are the only provider uniquely positioned to facilitate the straight-through processing of institutional trades by seamlessly connecting our global client community to an open and integrated ecosystem that services the full post-trade lifecycle. DTCC is in the unique position to achieve the goal of creating a no-touch processing platform by bringing together all of the services that have become integral to post-trade over our decades-long history.

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