The new solution, ITP Data Analytics, enables firms to research and optimize the timeliness and accuracy of their trade processing and compare it against peers while gaining operational insights as they prepare for T+1 in the U.S. and to meet regulations such as CSDR in Europe
Post-trade market infrastructure giant Depository Trust & Clearing Corporation (DTCC) today confirmed the launch of its enhanced Institutional Trade Processing (ITP) service, ITP Data Analytics. The new service, said DTCC, includes analytical tools that enable Broker/Dealers and Investment Managers to measure and compare their operational performance against counterparties, industry standards and peers.
The service, which replaces their legacy Benchmarks service, consumes underlying daily transaction activity from CTM, DTCC’s post-trade central matching service. Firms’ data is aggregated and analyzed across multiple metrics and dimensions, providing insights on operational performance across asset classes as well as comparisons to industry averages, counterparty timeliness and efficiency. The data, said DTCC, is displayed on a graphical dashboard that provides customizable functionalities, and the reports are available for direct download.
According to firm literature, the new service also provides dedicated metrics and analyses on data points that can assist firms in preparations for the proposed move in the U.S. to a T+1 settlement cycle, and in the prevention of failed trade penalties under regulations such as Europe’s Central Securities Depositories Regulation (CSDR). Trade lifecycle metrics including Same Day Entry, Same Day Agreement and Touch Rate help firms assess their readiness for T+1 and the proposed mandate for Trade Date Affirmation in the U.S. and their ability to comply with CSDR. With ITP Data Analytics, firms gain new insights to drive no-touch processing, increase client satisfaction, reduce costs, and identify firm-specific operational competitive advantages.
“The new, modernized ITP Data Analytics service comes at a critical time for the financial industry, when firms must begin preparing for the U.S. market’s move to T+1, and also comply with regulatory changes like CSDR,” said Matthew Stauffer, Managing Director, Head of Institutional Trade Processing, DTCC President & Chief Executive Officer, DTCC ITP LLC. “[The new] tool will enable firms to gain new insights into their operational performance to gain a competitive advantage, while also prioritizing their clients’ needs,” he said.
Analysts say the new service provides unique functionality, such as:
- Time Period: Provides clients with access to dynamic metrics and reports highlighting operational performance metrics and the ability to monitor historical performance across a week, month, or quarter.
- Peer & Counterparty Benchmarking: Provides clients with aggregated reporting, anonymized peer comparisons and counterparty breakdowns across asset classes and markets.
- Data Feeds: Provides clients with the ability to access and download their underlying transaction data, metrics and reports for in-depth analysis. This is offered via a GUI and CSV file download.
- Dynamic Data Visualization: Includes modernized User Interface with interactive charts and graphs to better analyze your key metrics and identify areas of improvement.
- Personalized Customization: Offers flexible data filtering along with highly customizable sorting options within data grids. Customizable reports can be organized at the aggregate or individual counterparty level, regionally, or by identifier. It also supports customization by market, financial instrument type, currency, and more.