DTCC pursues automated processing for hedge funds

LAUNCH | DTCC CALLS ON MUTUAL-FUND EXPERTISE TO LAUNCH AUTOMATED SERVICE FOR HEDGE FUNDS

NEW YORK – The Depository Trust & Clearing Corporation (DTCC) has established an advisory committee of 16 buy- and sell-side firms to develop a standard automated platform for processing and settling trades of hedge-fund products.

The committee will initially focus on new accounts and subscriptions, purchases and redemptions, commissions, positions reporting and account maintenance. Following these, the committee will turn to data exchange, offshore transactions, and exchange-traded funds.

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