DTCC Taps Risk Focus for ESMA Level 2 Rules Coverage

DTCC will use Validate.Trade engine internally for its pre-UAT testing for its Global Trade Repository service.

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The DTCC is based in New York.

The Depository Trust & Clearing Corporation (DTCC) has selected Risk Focus' Validate.Trade engine internally to help its Global Trade Repository (GTR) unit with pre-UAT testing regarding the October 2015 deadline for ESMA Level 2 rules.

DTCC's GTR helps firms with over-the-counter (OTC) derivatives reporting. Risk Focus' Validate.Trade will look to assist that effort as a validation and emulation engine.

"DTCC believes that the use of this tool internally will enhance quality assurance and pre-UAT testing within the GTR service, enabling us to improve the roll-out of our ingestion-related changes," Chris Childs, CEO of DTCC's Global GTR business, said in a statement. "Furthermore, the use of the tool by our operations team will assist in resolving client queries as well as enhance the GTR client experience."

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