The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, announces the launch of its Data as a Service (DaaS) offering, the latest solution available through its centralized and dynamic data provisioning service.
The newest offering from DTCC Data Products transforms the way data is accessed and presented from DTCC’s clearing, settlement, asset servicing and derivatives trade reporting solutions, providing firms with new insights on trading activities across multiple asset classes.
DTCC has unparalleled access to financial markets data, enabling its clients to directly source reliable, enriched and unique market and reference data. The DaaS offering provides subscribers access to their own firm-specific transaction data, as well as positions aggregate data along with tools to customize views. DaaS delivers asset class specific data, including transaction volumes, positions and exposure. Users benefit by receiving timely, targeted intelligence necessary to help them stay ahead of the competition. A multi-phase initiative, DTCC Data Products was created in response to growing client need for centralized on-demand access to multiple sources of market and reference data. The DTCC DaaS offering enables clients to mitigate risk, enhance efficiencies and reduce costs, as well as to meet new regulatory requirements.
A top-tier global investment bank is the first to adopt the new DaaS service, selecting the offering for its fixed income, government securities division (GSD) data capabilities. With this solution, the client can access GSD data directly from DTCC’s Fixed Income Clearing Corporation (FICC) service, providing it with access to their GSD activity along with value-added analytics and benchmarking against the overall industry and dealer activity. Additional perspectives are available through DaaS based on the particular characteristics of a security type, such as by security duration (e.g. 10-year notes) and time until security maturity for U.S. government securities. Each category of aggregate data is available for the current analysis week, month and quarter in direct comparison to its base week, month and quarter.
Ron Jordan, DTCC’s Managing Director of Data Products, said: “Our clients are becoming more data-centric in everything that they do and have asked DTCC to help them meet their data and regulatory challenges by enabling them to view and analyze their transaction data across multiple DTCC sources. Working closely with our participant firms, and using data sourced from DTCC’s central clearing, settlement and data repository engines, including FICC, National Securities Clearing Corporation (NSCC) and Global Trade Repository (GTR), DaaS allows subscribers to view their own firm-specific data and compare it to market aggregates. This increased level of data enables users to streamline information flows from DTCC to monitor share of market change activity and share of exposure activity from a variety of new perspectives and dimensions.”
Future DaaS capabilities, targeted for 2016, will include new query tools for on-demand results, client-configurable data feeds and access to historical data.