Reduces Trade Risk
Automates manual post-trade processes to help firms avoid delays and errors in trade settlement, while centralizing trade matching and generating legally binding confirmations in real time.
CMU RTTM®
Centralize Trade Management
Manual trade processing, fragmented workflows, and inconsistent communication have challenged the over-the-counter debt markets for years, resulting in costly delays, frequent errors, and heightened operational risk. As trading volumes surge and regulatory scrutiny increases, firms that continue to rely on outdated methods, risk falling behind, exposing themselves to compliance failures and financial loss.
DTCC’s CMU RTTM® effectively mitigates these issues by providing a centralized digital trade capture and matching platform for processing trades in corporate bonds, municipal bonds, and Unit Investment Trusts (UITs). Brokers and dealers can enter and match trade details instantly, allowing both parties to monitor and manage the status of their transactions in real-time throughout the trade lifecycle, from entry to clearance and regulatory reporting.
- Thousand
Average daily sides processed
- Billion
Average daily transaction value
Data as of Q4 2025
Key Features & Benefits
Improves Communication Reliability
Supports standardized, ISO-compliant interactive messaging across all trade activities.
Offers Cost-Efficient Consolidation
Provides a single platform that supports frequently traded fixed income products, simplifying infrastructure and operations.
Simplifies Trade Management
Allows members to enter trade details, view real-time status updates, and access robust search, query and reporting tools through a web-based interface.
Supports Compliance
Facilitates timely and transparent trade reporting to support evolving business and regulatory requirements.
Who Can Use This Service
Eligible Market Participants
CMU RTTM® supports dealers, brokers, and other eligible market participants processing corporate, municipal, and UIT fixed income trades.
Resources
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DTCC Learning Center
Access training, release information, testing materials, user guides and product documentation for CMU RTTM® and related Municipal Services offerings.
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CNS®
Following successful matching in CMU RTTM®, eligible trades can be routed to CNS® for netting and settlement processing.
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Obligation Warehouse
Following trade matching in CMU RTTM®, Obligation Warehouse helps firms manage obligations, track activity and resolve exceptions throughout the post-trade lifecycle.
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Reference Documentation
Explore important notices, regulatory rule filings, bylaws, risk management information and operational requirements from DTCC and its clearing agencies.