The Depository Trust and Clearing Corporation (DTCC) has announced the successful receipt of swap prices and transaction data at its DTCC Data Repository (DDR).
DDR began collecting data on December 31 2012, the obligatory enactment date of regulation from the US Commodity Futures Trading Commission (CFTC) that requires participants to report swap transaction data to a repository, which then publicly disseminates the information. Since December 31, DTCC claims, it has released more than 10,000 records for real-time pricing through file transfers, RSS feeds and ticker information on its website.
DDR has also been collecting cleared and uncleared trade reports, as mandated by the CFTC. The rules are designed to bring transparency to the reportable over-the-counter (OTC) derivatives market, which was inherently one of the most opaque areas of finance.
"Enabling swap dealers to report trade information into DDR and providing this data to regulators and the public is an important milestone in our ongoing efforts to enhance global market transparency," says Mike Dunn, chairman at DDR. "DDR has been ready to accept data since October 12, which was the date reporting started under CFTC regulations. Since the launch of DTCC's repository service as a trade information warehouse in 2006, DTCC has been committed to establishing strong infrastructure globally and bringing clarity to the marketplace."