Omgeo Adds ProtoColl Link to DTCC Repository

The move is in line with enhanced reporting requirements, stemming from the European Market Infrastructure Regulation (EMIR), which will see market participants obliged to send collateral values along with transaction reports from August 11, 2014.

Mandatory transaction reporting, in which both sides of a derivatives trade report details to a repository like the DTCC's GTR, came into effect on February 12. ProtoColl is Omgeo's collateral and margin management offering.

The EMIR requirements are part of a broader global move toward injecting transparency into the previously opaque over-the-counter (OTC) derivatives market. Other prongs of the initiative, led by Group-of-20 directions, involving moving standardized contracts such as interest-rate and credit-default swaps on to electronic platforms, and introducing central clearing. Other regions across the world either have reporting regimes in place, or are actively implementing them.

"As evolving regulatory reporting requirements come into effect in Europe and around the world, the DTCC is committed to leveraging its Omgeo assets to provide end-to-end solutions that deliver even greater value to our mutual clients," says Sandy Broderick, CEO at the DTCC's GTR. "The ProtoColl and GTR interface is a demonstration of that commitment to strategic partnership and delivering efficiencies."

The DTCC acquired 100 percent of Omgeo in October last year, buying out the half of the company that was owned by Thomson Reuters.