New York/London/Hong Kong/Singapore/Sydney, February 4, 2020 ‒ The Depository Trust & Clearing Corporation (DTCC), the premier market infrastructure for the global financial services industry, today announced the launch of its Application Programming Interface (API) Marketplace (‘Marketplace’) to provide its clients, partners and internal developers with a single, central location for APIs developed by DTCC, streamlining access to services and improving the user experience.
“APIs will continue to play an important role in the future of financial services across the retail, institutional and post-trade areas,” said Lynn Bishop, CIO at DTCC. “In the on-demand, personalized service age of Netflix, Hulu and Amazon, expectations have evolved, with clients now wanting to access services in different ways that are unique to their individual business needs. We are pleased to launch our new Marketplace and provide clients with API access that delivers the flexibility they need to conduct business the way they want to.”
DTCC’s Marketplace is an online DTCC API “App Store”, allowing direct programmatic access to DTCC processing functionality. The Marketplace includes comprehensive documentation and training materials to help developers use the APIs.
“The role of technology in advancing the financial services industry is more critical than ever, enabling firms to better meet the evolving needs of clients,” Bishop added. “APIs are the building blocks of this digital transformation, and in today’s interconnected world, they have risen in prominence and become important to every facet of the enterprise. We look forward to taking advantage of this new technology for the benefit of DTCC and our clients.”
DTCC recently launched its first API for its Risk Management as a Service (RMaaS), which allows firms to gain greater insight into their current and historical unsettled positions to more efficiently analyze and manage risk and liquidity across functions and activities, including monitoring and surveillance and regulatory compliance. Companies or developers interested in using the API can sign up and test it in a sandbox environment.
Additional APIs for other DTCC products and services are in development, including one that will help clients to submit, update, and query new and existing claims against Corporate Action events. Future APIs will be launched later this year and beyond.
Notes to Editor
An API is a software intermediary that allows two applications to talk to each other. In other words, APIs enable the flow of information between applications and provide financial institutions the ability to easily access and evaluate customer data and create innovative products tailored to consumer, market and regulatory needs. APIs are increasingly being used by financial institutions to expose business data, functionality and services to the outside world crossing the internal borders that existed traditionally, to create better customer experiences.
With over 45 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From operating facilities, data centers and offices in 16 countries, DTCC, through its subsidiaries, automates, centralizes and standardizes the processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management, data reporting and information services across asset classes, bringing increased security and soundness to financial markets. In 2018, DTCC’s subsidiaries processed securities transactions valued at more than U.S. $1.85 quadrillion. Its depository provides custody and asset servicing for securities issues from 170 countries and territories valued at U.S. $52.2 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes over 14 billion messages annually. To learn more, please visit us at www.dtcc.com or connect with us on LinkedIn, Twitter, YouTube and Facebook.