DTCC Connection

Aug 22, 2016 • DTCC Connection

Waters Names DTCC Best Sell-Side Clearing Provider

For the third year in a row, The Depository Trust & Clearing Corporation (DTCC) was honored by Waters Technology as the Best Sell-Side Clearing Provider in the magazine’s 14th Annual Waters Technology awards.

This award, a widely-recognized benchmark of success, distinguishes top solution providers across the financial services industry. Waters Rankings 2016 featured 30 categories under these areas of specialty: Trading Services; Trading Tools, Data Management; Compliance, Risk Management & Back Office; and Infrastructure & Connectivity. DTCC earned its award under the “Trading Services” banner.

"One of the biggest success stories for the DTCC over the past 12 months was the launch of Clarient, a standardized reference data service and entity hub for verifying client information, developed in cooperation with six sell-side banks and several major buy-side firms.

Waters Technology on DTCC’s Award"

Waters’ recognized DTCC as the leading provider of clearing services for equities and fixed income transactions – the firm’s core infrastructure – and also highlighted that, “DTCC continues to focus on both its core competencies of improving data standardization and harmony, and branching out its services into new arenas.”

This year’s Rankings dinner, held on July 14 at New York’s Metropolitan Club, was hosted by major league baseball pundit and analyst Tim Kurkjian. Representing DTCC at the awards were Tim Garrett and Craig Gurien – both serve as Directors in DTCC’s Equity Clearing Product Management group.

Blockchain

Waters also emphasized DTCC’s leadership in the emerging research and development of innovations such as distributed ledger technologies.

“The DTCC has been heavily involved in the research and development of blockchain and distributed-ledger technologies,” Waters’ wrote in it’s coverage of the awards. “The firm was recently involved in a number of distributed-ledger proofs-of-concept (POCs), including a repo POC with US-based specialist Digital Asset Holdings and an industry-led credit default swaps (CDS) initiative.”

Besides its work in blockchain, Waters also highlighted DTCC’s partnership in Clarient: “One of the biggest success stories for the DTCC over the past 12 months was the launch of Clarient, a standardized reference data service and entity hub for verifying client information, developed in cooperation with six sell-side banks and several major buy-side firms.”

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