The Depository Trust & Clearing Corporation (DTCC) has bolstered its trade reporting services through a partnership with compliance software specialist Droit.
As part of the deal, market participants will be able to use Droit’s reporting eligibility platform within DTCC’s Pre-Reporting Transformation Services for various G20 reporting regimes, including the impending Securities Financing Transactions Regulation (SFTR).
DTCC’s Pre-Reporting Transformation Services aim to normalise and validate trade data before it is submitted to the registered trade repository. The addition of Droit’s ADEPT platform will provide the option to include pre-installed reporting decision-making for both SFTR and derivatives reporting compliance.
“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 of product development & strategy for derivatives and collateral management at DTCC.
DTCC added that the partnership with Droit will also help reduce the operational burden for firms and mitigate regulatory risk by allowing them to apply eligibility logic before submitting transactions to trade repositories.
“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 of 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.”