Despite the extension to comply with the final phase of the uncleared margin rules, major operational challenges remain for buy-side firms.
Daily penalties mean the upcoming Settlement Discipline Regime (SDR) is an issue for the front-office as well as the back, according to the DTCC.
Recent rule changes in the US during the past two years have to a major rise in aggregate cleared repo and reverse repo volumes.
DTCC is undergoing a strategic re-platforming of its IT infrastructure and technology that supports clearing and settlement.
DTCC recently broadened the category of market participants accessing the Fixed Income Clearing Corporation’s cleared repo service.
Funds have raised concerns that SFTR requirements on collateral re-use will provide full view of trading book.
The proposals aim to shift trading activity away from bilateral markets and towards central clearing.
The research explained how, for some firms, most settlement communications still occur through email instead of through secure networks.
Droit’s ADEPT reporting eligibility platform has been added to DTCC’s trade reporting service for SFTR and derivatives reporting regimes.
Transaction follows recent regulatory approval to expand DTCC’s Fixed Income Clearing Corporation sponsored programme.