DTCC operates the global Equity Derivatives Reporting Repository (EDRR) for the over-the-counter (OTC) equity derivatives market through its European based DTCC Derivatives Repository Ltd subsidiary.
DTCC built EDRR to bring greater transparency into the trading of these instruments and all of the 14 global market dealers are live on the service. EDRR generates reports that keep market participants and regulators up to date on the industry's outstanding OTC equity derivatives notional and open positions, as well as other position-related information through a single, secure easy-to-access portal.
DTCC Derivatives Repository also houses global credit default swap (CDS) data that mirrors the data registered in DTCC's New York-based Warehouse Trust Company LLC. This helps ensure regulators globally have secure and unfettered access to CDS information by establishing identical data sets on two continents. DTCC Derivatives Repository is a U.K. Financial Services Authority (FSA)-regulated service company.
Warehouse Trust Company LLC is DTCC's U.S.-based global trade repository and centralized lifecycle event processing, netting and settlement service for the approximately US$26.6 trillion CDS market. Virtually all CDS contracts are registered in the Warehouse, whose customer base includes all global derivatives dealers and more than 1,800 buyside customers in 50 countries.
To help bring greater transparency to the market, DTCC publishes weekly on its website (www.dtcc.com) current and historical aggregate data on CDS trades maintained in the Warehouse.
DTCC also provides global regulators with specific counterparty information based
on guidelines provided by the OTC Derivatives Regulators' Forum (ODRF). Comprising more than 40 international financial regulators, central banks and banking supervisors, the ODRF was formed to provide regulators with a means to cooperate, exchange views and share information related to OTC derivatives, central counterparties and trade repositories.
Matching and confirmation
DTCC, along with Markit, also provides OTC equity, credit and interest rates matching and confirmation through its jointly-owned company, MarkitSERV.