The US Depository Trust and Clearing Corporation (DTCC) has launched Smart/Source, a service which provides online access to security event and reference data collected by its depository subsidiary, The Depository Trust Company (DTC).
The service is accessible over the Internet or through DTCC's secure private network, Smart. Initially developed for a broad customer base - including the non-traditional DTCC participants such as money managers, data vendors and exchanges - the service is available to any organisation that needs to access the data.
Users can log in to confirm security events - including any current, historical or future announcements on reorganisations, redemptions and dividend payments - for all DTC-eligible securities.
Daniel Thieke, product manager, DTCC Network Services, says: "Currently, firms have to draw this information from multiple sources. With Smart/Source, they can go online - direct to the depository as the 'source' of the information - and verify whatever information they have."
In pilot for six months, DTCC says it worked with several firms to establish the business requirements for Smart/Source, including advanced search capabilities for reference and event data.
DTCC is already planning future enhancements for the service, including a customised "watch list" of securities and the ability to perform an immediate file transfer protocol (FTP) download of that data.