The Depository Trust & Clearing Corporation (DTCC) has announced it will reduce fees for its global trade repository (GTR) service in Singapore and Australia.
Clients leveraging its GTR service for the Monetary Authority of Singapore (MAS) and the Australian Securities and Investments Commission (ASIC) transactions will see fees reduced by up to 20%.
DTCC said the amount fees are to be reduced would depend on “volume and/or commitment term.”
Regional head of GTR for DTCC in Asia, Peter Tierney, said community adoption and its utility model mean prices can be reduced as efficiencies are gained.
DTCC’s GTR was initially launched in 2012, with over 7,000 firms globally and 500 in Asia using the service.
The pricing change is to take effect on 1 October.