DTCC and its Trade Information Warehouse were cited in a Wall Street Journal editorial on March 12 as part of the solution in bringing greater transparency and systemic risk reduction to the credit default swaps (CDS) market.
“Proponents talk of the need for transparency in the credit-default swap market so that regulators can monitor risks,” stated the editorial. “But today regulators can already see essentially the entire market in the Trade Information Warehouse maintained by The Depository Trust & Clearing Corporation.”
The Journal published the editorial, titled “A Financial Reform Reprieve,” following news that the Senate’s bipartisan talks on financial reform had broken down. “Financial reform is still necessary… but the point should be to build a sturdier system that is more likely to avoid, and survive without a taxpayer rescue, the next mania and system panic.” The article cautioned against “regulation crafted in haste.” @