Dan Magarino, Executive Director and Head of DTCC Data Products
Introduced in June 2015, DTCC Data Products is a new and innovative business that taps into the vast universe of data captured by DTCC’s processing engines. Clients can access their own firm-specific transaction data and aggregate data views of transaction volumes, positions and exposure. With unparalleled access to financial markets data, DTCC provides its clients with directly sourced, reliable, enriched and unique market and reference data.
DTCC Connection sat down with Dan Magarino, Executive Director and Head of DTCC Data Products to learn about how DTCC Data Products helps firms find their competitive edge.
DTCC Connection: Tell us about DTCC Data Products.
Dan Magarino: DTCC Data Products brings together a suite of unique data offerings in response to growing client demand for access to the massive amounts of market data DTCC captures through its processing engines. In today’s competitive market environment, firms require high-quality data to help them deliver measureable insights into their markets of interest. We provide this for them.
DC: Where is this data sourced from?
DM: DTCC Data Products directly sources cross-asset-class data from DTCC’s clearing, settlement, asset services and trade reporting engines. We provide custom views to help firms focus on their areas of interest.
DC: What are the available data sets?
DM: DTCC Data Products has numerous data sets covering six assets classes and data categories. They include Equities, Fixed Income, Derivatives, Announcements, Reference and Operational Analytics. Some of the specific products include ETF Portfolio Service, OTC Derivatives Direct Connect, Corporate Actions Web, and many others.
DC: How does DTCC Data Products develop their offerings to address the key business challenges our clients face?
DM: In general, our data helps firms meet increasing regulatory demands, reduce risks, increase operational efficiencies, gain access to better market insight, lower operational costs and bring greater transparency to their business operations. We also listen to our clients and the industry to better understand their needs.
For example, a large market participant recently came to us to discuss concerns about the Commercial Paper market with a specific concern on how they capitalize their holdings properly for recent regulatory requirements. We worked together with the client and with the DTCC SIFMU subject matter experts to come up with a Liquidity Coverage Ratio offering. This ratio helps firms determine short-term capital requirements that assist with Basel III capitalization regulations requiring they hold collateral for various time periods. Firms use this tool to potentially help free up significant capital for other business needs.
DC: What is DTCC Data Products’ DaaS offering?
DM: Planned as a multi-phase initiative, Data as a Service, or “DaaS,” was created in response to growing client need for centralized on-demand access to multiple aggregated and anonymized sources of cross-asset class DTCC data in smarter and faster ways. It sources raw data from DTCC’s processing engines and customizes the data to provide firms with views relevant to their specific needs. DaaS enables firms to narrow in on the information they need. Clients may need these specific views to understand market exposure risk, analyze operational efficiency / performance, or assist in meeting regulatory requirements. DaaS also provides access to a firm’s specific data for analysis and comparison against industry benchmarks.
DC: Where can someone interested in DTCC Data Products get more information?
DM: You can learn about all of the products offered by DTCC Data Products at DTCCdata.com. On this site users can get more information on each offering and view fact sheets, sample data, videos and webinars. Currently, clients can download Trade Information Warehouse data directly from the portal.