GTR & TIW by the Numbers
Global Trade Repository
The Global Trade Repository service (GTR)1 provides the world’s largest suite of trade repository services for OTC and exchange-traded derivatives. With an estimated 80% global market share, GTR repositories process:
- 49 million open positions
- And more than 13 billion messages annually
- For more than 5,000 clients in multiple jurisdictions around the world.
- 60+ regulators have access to data across 35 countries. Data access varies by jurisdiction in accord with local regulations and guidelines.
In anticipation of the forthcoming Securities Financing Transactions Regulation (SFTR) in Europe and the U.K., GTR is building out its functionality beyond derivatives to accommodate securities financing transactions (SFT) – such as repos, reverse repos, securities and commodities lending and borrowing -- and will begin providing trade reporting and data enrichment to support clients’ SFTR compliance when the rules take effect in 2020.
Additionally, to assure full, uninterrupted service for all clients in the European Union (EU) and U.K., DTCC, ahead of the scheduled 2019 Brexit, established a trade repository in Dublin to serve the post-Brexit EU27’s trade reporting needs. This entity, DTCC Data Repository (Ireland) Plc (DDRIE) is registered by ESMA but will not be active until Brexit takes effect. Until that time, EU and U.K. clients continue to report to London-based DTCC Derivatives Repository Plc (DDRL). Post-Brexit, DDRL will operate under the authority of the U.K.’s Financial Conduct Authority (FCA) to meet the U.K.’s reporting requirements.
As trade reporting advances, GTR will ensure it remains the provider of choice by continuously enhancing its core services and leveraging new technologies where possible.
Trade Information Warehouse
The Trade Information Warehouse (TIW) plays a central role in the global market infrastructure for credit default swaps by providing key components of record retention and asset servicing such as payment calculations, a central settlement messaging service for settlement occurring through CLS Bank, and a wide array of event processing activities including credit events, restructuring events, rename events, and reorganizations.
TIW contains over 50,000 accounts representing counterparties across 95 countries and automates the record keeping, lifecycle event processing, and payment management for approximately $10 trillion (notional) of cleared and bilateral credit default swaps.
1. DTCC offers the Global Trade Repository service through its registered/licensed trade repositories.↩