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DTCC Takes OTC Derivatives Data Access to the Cloud

Date:

DTCC has introduced a new service offering real-time
access to over-the-counter (OTC) derivatives transaction data through cloud
technology. Dubbed OTC Direct Connect, the new offering caters to investment
professionals, data vendors, and business support teams operating in the
derivatives markets.

According to the company’s official statement, OTC
Direct Connect aims to streamline the management of market and trading risk
factors. It offers a solution to eliminate manual data collection methods. The service
promises improved transparency in the OTC derivatives markets, in line with
regulatory disclosure mandates.

Tim Lind, the Managing Director of DTCC Data
Services, mentioned: “This solution systematically and seamlessly disseminates
OTC derivatives transaction data to interested parties. OTC Direct Connect
improves transparency in the OTC derivatives markets, as intended by regulatory
disclosure mandates, by providing subscribers with improved information
access.”

DTCC’s OTC Direct Connect aims to transform the
handling of OTC derivatives transactions. It equips subscribers with real-time
access to crucial market data, enabling them to manage risks associated with
trading activities better. The elimination of manual data collection methods provides scalability and automated access to DTCC’s
published data on the Public Price Dissemination Dashboard.

Besides that, the service improves market
transparency as required by regulatory disclosure mandates, offering subscribers enhanced information access. Subscribers receive data through
Amazon Web Services (AWS) via AWS Data Exchange. This allows them to
conveniently find, subscribe to, and use third-party data in the cloud .

AWS Data Exchange’s integration with other AWS
services, such as Amazon S3, Amazon Athena, and Amazon Redshift, streamlines
data storage and integration into their systems and applications, DTCC stated. The launch of
OTC Direct Connect adds to the array of DTCC’s data services offerings.

Evolving Landscape of
OTC Derivatives Regulation

The regulation of OTC derivatives is gaining
traction globally. In September, the Canadian securities regulators
introduced a comprehensive rule to regulate OTC derivatives for
dealers and advisers. This new rule, aligning with international standards,
aims to foster transparency, accountability, and ethical practices in the OTC
derivatives market in Canada.

The newly adopted rule places substantial
responsibilities on OTC derivatives dealers and advisers. These obligations
include mandates related to fair dealing, conflict of interest management,
reporting non-compliance, and maintaining meticulous recordkeeping. This
framework is a crucial step towards ensuring the integrity of the OTC
derivatives market.

DTCC has introduced a new service offering real-time
access to over-the-counter (OTC) derivatives transaction data through cloud
technology. Dubbed OTC Direct Connect, the new offering caters to investment
professionals, data vendors, and business support teams operating in the
derivatives markets.

According to the company’s official statement, OTC
Direct Connect aims to streamline the management of market and trading risk
factors. It offers a solution to eliminate manual data collection methods. The service
promises improved transparency in the OTC derivatives markets, in line with
regulatory disclosure mandates.

Tim Lind, the Managing Director of DTCC Data
Services, mentioned: “This solution systematically and seamlessly disseminates
OTC derivatives transaction data to interested parties. OTC Direct Connect
improves transparency in the OTC derivatives markets, as intended by regulatory
disclosure mandates, by providing subscribers with improved information
access.”

DTCC’s OTC Direct Connect aims to transform the
handling of OTC derivatives transactions. It equips subscribers with real-time
access to crucial market data, enabling them to manage risks associated with
trading activities better. The elimination of manual data collection methods provides scalability and automated access to DTCC’s
published data on the Public Price Dissemination Dashboard.

Besides that, the service improves market
transparency as required by regulatory disclosure mandates, offering subscribers enhanced information access. Subscribers receive data through
Amazon Web Services (AWS) via AWS Data Exchange. This allows them to
conveniently find, subscribe to, and use third-party data in the cloud .

AWS Data Exchange’s integration with other AWS
services, such as Amazon S3, Amazon Athena, and Amazon Redshift, streamlines
data storage and integration into their systems and applications, DTCC stated. The launch of
OTC Direct Connect adds to the array of DTCC’s data services offerings.

Evolving Landscape of
OTC Derivatives Regulation

The regulation of OTC derivatives is gaining
traction globally. In September, the Canadian securities regulators
introduced a comprehensive rule to regulate OTC derivatives for
dealers and advisers. This new rule, aligning with international standards,
aims to foster transparency, accountability, and ethical practices in the OTC
derivatives market in Canada.

The newly adopted rule places substantial
responsibilities on OTC derivatives dealers and advisers. These obligations
include mandates related to fair dealing, conflict of interest management,
reporting non-compliance, and maintaining meticulous recordkeeping. This
framework is a crucial step towards ensuring the integrity of the OTC
derivatives market.

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