DTCC has launched a brand new service providing real-time entry to over-the-counter (OTC) derivatives transaction knowledge by way of cloud know-how. Dubbed OTC Direct Join, the brand new providing caters to funding professionals, knowledge distributors, and enterprise help groups working within the derivatives markets.
In response to the corporate’s official assertion, OTC Direct Join goals to streamline the administration of market and buying and selling danger components. It affords an answer to get rid of handbook knowledge assortment strategies. The service guarantees improved transparency within the OTC derivatives markets, in keeping with regulatory disclosure mandates.
Tim Lind, the Managing Director of DTCC Information Companies, talked about: “This answer systematically and seamlessly disseminates OTC derivatives transaction knowledge to events. OTC Direct Join improves transparency within the OTC derivatives markets, as supposed by regulatory disclosure mandates, by offering subscribers with improved info entry.”
DTCC’s OTC Direct Join goals to rework the dealing with of OTC derivatives transactions. It equips subscribers with real-time entry to essential market knowledge, enabling them to handle dangers related to buying and selling actions higher. The elimination of handbook knowledge assortment strategies is a major profit, offering scalability and automatic entry to DTCC’s revealed knowledge on the Public Value Dissemination Dashboard.
We have now launched a brand new service, OTC Direct Join, that may leverage cloud know-how and streamline entry to OTC derivatives transactions knowledge to assist get rid of handbook knowledge assortment strategies.
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— DTCC (@The_DTCC) November 8, 2023
In addition to that, the service improves market transparency as required by regulatory disclosure mandates, offering subscribers with enhanced info entry. Subscribers obtain knowledge by way of Amazon Internet Companies (AWS) through AWS Information Change. This enables them to conveniently discover, subscribe to, and use third-party knowledge within the cloud.
AWS Information Change’s integration with different AWS providers, reminiscent of Amazon S3, Amazon Athena, and Amazon Redshift, streamlines knowledge storage and integration into their programs and purposes. The launch of OTC Direct Join provides to the array of DTCC Information Companies choices, reinforcing DTCC’s dedication to offering dependable and revolutionary options to the monetary providers business.
Evolving Panorama of OTC Derivatives Regulation
The regulation of OTC derivatives is gaining traction globally. In September, the Canadian securities regulatory authorities launched a complete rule to manage OTC derivatives for sellers and advisers. This new rule, aligning with worldwide requirements, goals to foster transparency, accountability, and moral practices within the OTC derivatives market in Canada.
The newly adopted rule locations substantial tasks on OTC derivatives sellers and advisers. These obligations embody mandates associated to truthful dealing, battle of curiosity administration, reporting non-compliance, and sustaining meticulous recordkeeping. This framework is a vital step in direction of guaranteeing the integrity of the OTC derivatives market.