Depository Trust & Clearing Corporation (DTCC) Data Products has launched its Data as a Service product, which has already been adopted by a top-tier bank.
The new service is designed to offer insight in to trading activities across multiple asset classes, working with DTCC’s clearing, settlement, asset servicing and derivatives trade reporting solutions to provide new insights in to data.
It allows access to reliable and unique financial markets and reference data, and gives subscribers access to their own firm-specific transaction data and positions aggregate data, plus tools to customise their views.
DTCC Data Products was created as a response to client demand for fast access to various sources of market and reference data. The new data service brings additional risk mitigation, efficiency, and cost reduction to the offering, while helping clients to meet regulatory requirements.
The top-tier bank, which has not been named, has adopted the new service for the data capabilities of its fixed income and government securities division, in order to keep track of its activity, analytics and benchmarking alongside the overall industry and dealer activity.
Ron Jordan, DTCC’s managing director of data products, said: “Our clients are becoming more data-centric in everything that they do and have asked DTCC to help them meet their data and regulatory challenges by enabling them to view and analyse their transaction data across multiple DTCC sources.”
“Working closely with our participant firms, and using data sourced from DTCC’s central clearing, settlement and data repository engines […] Data as a Service allows subscribers to view their own firm-specific data and compare it to market aggregates. This increased level of data enables users to streamline information flows from DTCC to monitor share of market change activity and share of exposure activity from a variety of new perspectives and dimensions.”
