Strong 2015 for DTCC’s trade automation services
The Depository Trust & Clearing Corporation’s (DTCC) straight-through-processing offering, Global Transaction Services, processed more than 817 million trade details in 2015, up 16% since the end of 2014.
More than 3800 investment managers, broker/dealers, and custodian banks worldwide now use the service, which automates trade lifecycle events between firms, with DTCC experiencing a 17% increase in new buy-side clients in the Asia Pacific region.
The Global Transaction Services suite comprises three specific solutions according to DTCC: Omgeo Central Trade Manager, which manages central matching of cross-border and domestic transactions; Omgeo OASYS, a U.S. domestic trade allocation and acceptance service that liaises between investment managers and broker/dealers; and DTCC’s Omgeo TradeSuite ID, which automates electronic trade agreements between counterparties.
Paula Arthus, Managing Director and Head of Omgeo and Data Services at DTCC, said that the firm intends “to continue providing value-added services to our clients that help secure and shape the future growth and development of the marketplace, we plan to build more interfaces with, and connections to, all major technology partners.”
As part of this continued expansion, DTCC plans to establish interoperability in the US market among the technology providers that were recently approved by the Securities and Exchange Commission.
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