The Depository Trust & Clearing Corporation was named Best Sell-Side Clearing Provider and Best Reconciliation Management Provider in the 12th Annual Waters Rankings 2014.
Waters Rankings category winners are determined exclusively by WatersTechnology readers in 30 categories divided into five sections: Trading Services; Trading Tools; Data Management; Compliance, Risk Management and the Back Office; and Infrastructure and Connectivity.
National Securities Clearing Corp. (NSCC), a subsidiary of DTCC, was singled-out for the sell-side clearing provider category. Omgeo held the title of top reconciliation management provider from 2010 to 2013. Omgeo was acquired by DTCC in the fall of 2013.
Waters cited a number of initiatives behind NSCC’s recognition, including: the launch of a new exchange-traded fund post-trade processing system and the new Limit Monitoring service.
“The DTCC and the NSCC have also been active drivers in pushing the market to move to a two-day trade settlement period (T+2) for equities, corporate and municipal bonds, and unit investment trusts, designed to reduce risk across the industry,” stated Waters.
DTCC earned its first top ranking in the reconciliation management provider category based largely on initiatives to support reporting requirements from the European Market Infrastructure Regulation (EMIR). Recently, Omgeo CTM expanded its capacity to include support of CFDs and equity swaps. In June, DTCC announced that Omgeo’s ProtoColl software now connects to the DTCC’s Global Trade Repository (GTR).
“It is a great honor to be awarded top honors in two categories among a strong field of worthy organizations,” said Gregory Johnston, Global Product Manager, Omgeo. “These awards underscore the significant value DTCC brings to the market.”
Waters Rankings 2014: Best Reconciliation Management Provider — DTCC
Waters Rankings 2014: Best Sell-Side Clearing Provider — DTCC