DTCC, TriOptima Take Aim at European Repository Matching Rates
Connectivity between repository and reconciliation service looks to reduce matching failures.
The service allows for the reconciliation of over-the-counter (OTC) derivative trade reports with trade records at dealers and end users.
Matching both sides of a trade, as mandated by the European Market Infrastructure Regulation, has become a severe problem at European trade repositories, not least because of missing identifiers, non-standardized taxonomies and differing practices regarding end-of-day reconciliation. The problem has been so acute that in June, the CEO of the DTCC's Deriv/Serv service said that just 30 percent of OTC derivative trades were being matched ─ itself better than the 3 percent of listed derivative trades that were matching.
The DTCC's connection now allows users to compare their own trade records with those submitted at the repository, allowing matches to occur even in the absence of correlative unique trade identifiers (UTIs). The sloppy regulatory preparation of UTIs, a critical component in trade matching, has led to a confused and irrational system of identifier generation and attachment.
"Implementing this connectivity enables firms to use triResolve to efficiently verify data in the repositories," says Raf Pritchard, CEO of triResolve. "This is an important tool to ensure accuracy of data in the repositories, a key regulatory goal."
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Symphony boosts Cloud9 voice offerings with AI
The messaging and collaboration platform builds on Cloud9’s capabilities as it embraces the AI wave in what CEO Brad Levy calls “incremental” steps.
Can exchanges leverage new tech to claw back ETF share from RFQ platforms?
Systematic trading strategies and proliferating data are bringing efficiency to an otherwise-fragmented European ETF market.
Nasdaq reshuffles tech divisions post-Adenza
Adenza is now fully integrated into the exchange operator’s ecosystem, bringing opportunities for new business and a fresh perspective on how fintech fits into its strategy.
Liquidnet sees electronic future for gray bond trading
TP Icap’s gray market bond trading unit has more than doubled transactions in the first quarter of 2024.
This Week: HKEx's new derivatives platform; GoldenSource; Quonian-SimCorp, and more
A summary of some of the latest financial technology news.
Chris Edmonds takes the reins at ICE Fixed Income and Data Services
Edmonds is now leading ICE’s fixed income and data business as the rush to provide better data and analytics in fixed income builds.
Systematic tools gain favor in fixed income
Automation is enabling systematic strategies in fixed income that were previously reserved for equities trading. The tech gap between the two may be closing, but differences remain.
Waters Wrap: Examining the changing EMS landscape
After LSEG’s decision to sunset Redi, Anthony examines what might lie ahead for the EMS space.
Most read
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- Deutsche Börse democratizes data with Marketplace offering
- Waters Wavelength Podcast: Broadridge’s Joseph Lo on GPTs