The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure facility for the global financial services industry, announced that its full-service institutional straight-through-processing (STP) suite of products, processed close to one billion trades, for the first time, in 2016, including equities and fixed income trades as well as equity swap and repurchase agreement trades.
As a user-owned and governed firm, DTCC takes very seriously its role in advancing solutions that help to secure and shape the future growth and development of the marketplace, said Paula Arthus, Managing Director and Head of Omgeo and Data Services at DTCC. DTCCs mission is to create market efficiencies and reduce costs, and thats precisely what were doing with our institutional trade processing suite of products. We aim to provide value across our networked, global community – particularly as we gear up for the transition to a T+2 settlement cycle in the U.S. and the implementation of MiFID II in Europe.
DTCCs institutional trade processing suite of products includes: Omgeo Central Trade Manager (Omgeo CTM), DTCCs strategic platform for the central matching of cross-border and domestic transactions; Omgeo OASYS (OASYS), DTCCs U.S. domestic trade allocation and acceptance service that communicates trade and allocation details between investment managers and broker/dealers; and Omgeo TradeSuite ID (TradeSuite ID), a cornerstone of the U.S. equity and fixed-income markets, which delivers both efficiency and cost savings to firms through automated electronic trade agreement between counterparties.
DTCC recently introduced reduced pricing for clients who TradeSuite ID and Omgeo CTM, plus a new, simplified rate card and billing transparency tool for TradeSuite ID users – enabling clients to significantly reduce costs and improve budgeting, said Matthew Nelson, Managing Director of Global Product and Strategy at DTCCs Omgeo. Were committed to delivering solutions that address our clients needs and to continuing to help mitigate operational risk wherever possible.
