New York/London/Hong Kong/Singapore/Sydney, 7 October 2020 ‒ The Depository Trust & Clearing Corporation (DTCC), the premier market infrastructure for the global financial services industry, today announced the launch of DTCC Consulting Services, a new advisory service to provide market participants around the world with unparalleled access to the firm’s expertise and experience in post-trade processing. DTCC will offer specialized, client-focused consulting services to help firms transform their post-trade business operations, including conducting initial infrastructure diagnostics, providing expert insight on their operational model design and on identifying their benchmarks, and helping firms to deliver on their strategy. Subject-matter experts will then be deployed with relevant industry knowledge and expertise to guide firms in the decisions they make throughout the process. DTCC has engaged Quorsus, providers of specialist consulting services to financial institutions, in support of launching the service.
As the industry faces an unprecedented swathe of regulatory, financial and operational challenges in 2020 and beyond, DTCC remains committed to supporting firms in more effectively managing regulatory changes, infrastructure enhancements, business process updates, control framework enhancements and other challenges related to post-trade processing. With DTCC Consulting Services, clients will be able to leverage an integrated set of services that add value at every stage of the post-trade processing lifecycle. DTCC’s consulting framework covers initial diagnostics through to the design, implementation and project management stages.
“For over 45 years, the industry has trusted us to solve some of the biggest challenges in the post-trade processing ecosystem,” stated Chris Childs, Managing Director, Head of Repository & Derivatives Services at DTCC. “Our unique position and vantage point enable us to provide our clients with guidance and recommendations to decrease risk and lower the cost of meeting regulatory and industry-driven requirements at a price-point that reflects genuine value.”
“We are delighted to have been selected by DTCC to help with this launch. Industry infrastructure and operating models are dynamically changing, and firms are looking for solutions that help them navigate the evolving landscape and deliver additional benefits and value,” stated Ryan Baccus, Co-Founder at Quorsus. “Our extensive experience in leading industry change, combined with DTCC services, expertise and touchpoints, will enable the creation of a true front-to-back DTCC consulting advisory service for the benefit of its clients.”
DTCC Consulting Services is focused on assisting individual clients understand their needs and develop an approach to addressing those needs, while also taking into account industry perspective for a more complete consulting solution. The service will initially be launched in support of the firm’s Repository & Derivatives Services (RDS) and Institutional Trade Processing (ITP) businesses, focusing on areas including but not limited to regulatory compliance with Securities Financing Transactions Regulation (SFTR) and Central Securities Depositories Regulation (CSDR) and best practices in the trade reporting and the post-trade process.
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 15 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 2019, DTCC’s subsidiaries processed securities transactions valued at more than U.S. $2.15 quadrillion. Its depository provides custody and asset servicing for securities issues from 170 countries and territories valued at U.S. $63.0 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.