DTCC’s Report Hub service has grown to more than 70 firms as the industry prepares for forthcoming regulatory changes in global derivatives trade reporting.
The members of the hub include leading banks, major swap dealers, and some of the largest custodians, clearing houses and buy-side firms across the globe.
DTCC Report Hub is designed to assist firms with managing their pre- and post-reporting needs across 14 jurisdictions, covering global derivatives, the Securities Financing Transactions Regulation and the second Markets in Financial Instruments Directive.
The cloud-hosted service helps clients increase efficiency, certainty and control over their reporting process while lowering risk.
The solution also helps reduce costs for enhancements related to future regulatory changes, as there are no additional licence fees for regulatory upgrades including the upcoming global regulatory trade reporting rewrites.
Combining DTCC Report Hub with DTCC’s Global Trade Repository (GTR) assists clients with tasks throughout the reporting lifecycle – from data extraction, to reporting to the trade repository, to post reporting quality assurance tools.
Commenting on the milestone, Chris Childs, managing director, head of repository and derivatives services, DTCC, says: “As local and global regulatory demands increase, firms are looking for solutions to address the complexities of trade reporting.
“Report Hub’s growing community is testament to its unrivalled asset class and jurisdictional coverage as well as its robust capabilities. We look forward to welcoming new clients to the service and in working with the industry to address evolving regulatory demands.”
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