The Depository Trust & Clearing Corporation (DTCC) began user testing of its new global trade repository service for foreign exchange on 1 May, and is planning full production by the fourth quarter, including regulatory and public reporting.
The repository is the last of five planned global repositories for OTC derivatives being developed and operated by DTCC.
"The rollout of the FX repository caps a busy year for DTCC of designing, developing and implementing global trade repositories for three different classes of OTC derivative products and providing reporting to regulators to monitor that trading and systemic risk globally, as well as greater public transparency," said Stewart Macbeth, president and chief executive officer of DTCC Deriv/SERV.
DTCC's depository provides custody and asset servicing for almost 3.7 million securities issues from the US and 121 other countries and territories, valued at $39.5 trillion.
