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DTCC Trade Reporting Expansion Aims to Help Firms Reduce Operational Burden, Mitigate Risk

The Depository Trust & Clearing Corporation (DTCC) is partnering with transactional compliance vendor Droit to enable market participants to leverage Droit’s reporting eligibility capabilities within DTCC’s Pre-Reporting Transformation Services for supported G20 regimes as well as the forthcoming Securities Financing Transactions Regulation (SFTR).

The joint offering will encompass Droit’s capabilities, which analysts say help reduce firms’ operational burden and mitigate regulatory risk by allowing firms to apply reporting eligibility logic before submitting transactions to the relevant registered trade repository.

According to a DTCC statement, market participants can now utilize DTCC’s Pre-Reporting Transformation Services for all key components of a regulatory reporting stack, using Droit to determine the full global cross-regulatory reporting implications and obligations associated with a transaction in real-time as well as receive complete auditability and traceability through to fully digitized regulatory text.

“Since 2014, Droit’s ADEPT platform has been invaluable to our clients in proving, to themselves and external parties, that reporting decision-making for each transaction is accurate and complete with respect to the laws in force at that time,” said Satya Pemmaraju, CEO, Droit. “This new link between DTCC’s Pre-Reporting Transformation Services and ADEPT provides a compelling proposition for an industry seeking efficient, accurate, transparent, scalable and cost-effective reporting infrastructure.”

DTCC explained that its Pre-Reporting Transformation Services, powered by Xceptor, can help clients normalize, enrich and validate trade data – typically spread across a myriad of disparate sources, in varying formats – before it can then be submitted to the registered trade repository. The addition of Droit’s ADEPT platform will provide clients with the option of including pre-installed reporting decision-making as part of DTCC’s one-stop solution for both SFTR and derivatives reporting regimes.

“Regulatory compliance is a key issue for market participants across the post-trade space. DTCC will continue to work with our clients to help them understand how new and existing regulations can affect their day-to-day processes, and where we can provide value-add solutions,” said Val Wotton, Managing Director, Product Development & Strategy, Derivatives & Collateral Management, DTCC. “Our partnership with Droit is a further example of how we’re bringing together best-in-class technologies and delivering them as a DTCC hosted solution for our clients.”

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