The Depository Trust and Clearing Corporation (DTCC) has upgraded its post-trade data analytics capability with the release of a new service, ITP Data Analytics.
Replacing DTCC’s existing ITP Benchmarks service, ITP Data Analytics can take in data directly from CTM, DTCC’s post-trade central matching engine, and provide analytics across a range of asset classes.
This offers tools that enable broker-dealers and buy-side firms to benchmark operational performance against counterparties, industry averages and peers, alongside metrics for counterparty timeliness and other efficiency criteria.
DTCC indicates that this data analytics service will help firms to prepare for a transition in the US to T+1 settlement and to minimise trade penalties under the settlement discipline regime of the Central Securities Depositories Association.
The availability of key operational indicators such as same-day entry rate, same-day agreements and touch rate helps users to evaluate their readiness for T+1 and to fulfil the proposed regulatory obligation in the US for T+0 affirmation.
DTCC managing director and head of institutional trade processing Matthew Stauffer says: “We are pleased to provide this comprehensive analytical tool to enable firms to gain new insights into their operational performance to gain a competitive advantage, while also prioritising their clients’ needs.
“The new modernised ITP Data Analytics service comes at a critical time for the financial industry, when firms must begin preparing for the US market’s move to T+1, and also comply with regulatory changes like CSDR.”
DTCC indicates that it is inviting current ITP Benchmarks subscribers to commence their migration to ITP Data Analytics, while also extending this analytics service to all users of the CTM matching engine.
