Waters Rankings 2016: Best Sell-Side Clearing Provider — The DTCC
The DTCC wins the best sell-side clearing provider category for the third consecutive year.
Having established itself at the vanguard of clearing services for equities and fixed-income, particularly in North America where the firm clears and settles almost all broker-to-broker equity, listed corporate, municipal bonds and unit investment trust transactions, the DTCC continues to focus on both its core competencies of improving data standardization and harmony, and branching out its services into new arenas.
One of the biggest success stories for the DTCC over the past 12 months was the launch of Clarient, a standardized reference data service and entity hub for verifying client information, developed in cooperation with six sell-side banks and several major buy-side firms. The service has garnered huge interest from both sides of the industry, including investment managers, corporations, trusts, outsourcers, broker-dealers and banks, as well as winning the title of best reference data newcomer for its innovative Public KYC Service at this year’s Inside Market Data/Inside Reference Data Awards.
In January this year, the DTCC announced the sale of the position reconciliation technology assets of its DTCC Loan/SERV (Loan/SERV) service to UK-based data vendor Markit, now renamed IHS Markit since its merger with Colorado-based IHS in early July. Around 400 asset managers, representing approximately 6,000 funds in the global syndicated loan market, utilize the Loan/SERV loan position reconciliation service to reconcile over 1 million positions, with records maintained by administrative agent banks. The DTCC will continue to host and support the Loan/SERV service within its datacenters on IHS Markit’s behalf until the full integration is completed, which is expected to occur by the end of the year.
The DTCC has been heavily involved in the research and development of blockchain and distributed-ledger technologies. The firm was recently involved in a number of distributed-ledger proofs-of-concept (POCs), including a repo POC with US-based specialist Digital Asset Holdings and an industry-led credit default swaps (CDS) initiative in collaboration with Axoni, Markit, Bank of America Merrill Lynch, Citi, Credit Suisse and JPMorgan, which saw a 100 percent success rate across 85 test cases looking at the capabilities of blockchain and smart contracts to manage the post-trade lifecycle events of standard North American single-name CDSs.
One of the biggest success stories for the DTCC over the past 12 months was the launch of Clarient, a standardized reference data service and entity hub for verifying client information, developed in cooperation with six sell-side banks and several major buy-side firms.
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 Awards & Rankings
Witad Awards 2024: Rising star (vendor) – data, engineering & product development—Roberta Bill, SmartStream Technologies
Roberta Bill, product manager at SmartStream Technologies, wins rising star (vendor) – data, engineering & product development, in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Technology leader of the year (end-user)—Sejal Shah, BNP Paribas India Services
Sejal Shah, director and head of Global Markets IT BNP Paribas India Services, wins technology leader of the year (end-user) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Reference data professional of the year (end-user)—Ludmilla Morgunova, BNP Paribas
Ludmilla Morgunova, Java developer on BNP Paribas’ Referential Data Platform, wins reference data professional of the year (end-user) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Vendor professional of the year (trading and risk)—Mina Wallace, SS&C Algorithmics
Mina Wallace, general manager and senior vice president of the risk management business unit at SS&C Algorithmics, wins the vendor professional of the year (trading and risk) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Above and beyond award (vendor)—Susan Bennett, Tradeweb
Susan Bennett, managing director, global head of product marketing at Tradeweb, wins the above and beyond award (vendor) in the 2024 Women in Technology and Data Awards.
Women in Technology & Data Awards 2024: All the winners and why they won
WatersTechnology honored the winners of the 36 categories in the 2024 Women in Technology & Data Awards, who were announced at a sit-down lunch in London on International Women's Day on March 8.
AFTAs 2023: Best new technology introduced over the last 12 months (data & data services)—SS&C Aloha
Northern Trust: Improving transparency across the asset servicing market
Northern Trust won three categories in the 2023 American Financial Technology Awards. Paul d’Ouville, global head of technology solutions and servicing at Northern Trust, discusses his firm’s fourth consecutive win in the Best reporting initiative…
Most read
- Women in Technology & Data Awards 2024: All the winners and why they won
- Witad Awards 2024: Above and beyond award (vendor)—Susan Bennett, Tradeweb
- Fighting FAIRR: Inside the bill aiming to keep AI and algos honest