DTCC launches online reference data service

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).

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DTCC launches online reference data service

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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.

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