DTCC launches new trade processing platform
10 January 2018 New York
Image: Shutterstock
The Depository Trust & Clearing Corporation (DTCC) has launched DTCC Exception Manager.
The platform is DTCC’s latest addition to its trade processing product suite, supporting securities transactions globally.
According to DTCC, the platform enables market participants to publish, manage and communicate exceptions through every stage of a trade.
Exception Manager also has a configurable risk dashboard to measure and chart exceptions based on risk criteria, it also identifies the root cause of operational breaks, such as incorrect standing settlement instructions (SSIs).
DTCC conducted a survey in mid-2017 among 364 senior buy- and sell-side professionals.
Some 78 percent of those asked said that missing or incomplete SSIs were the “biggest pain point” affecting post-trade processes.
Respondents were located in the Americas, Europe, Middle East, Africa, Asia-Pacific, Japan and Australia.
Matthew Stauffer, managing director and head of institutional trade processing at DTCC, said: “Trade data needs to be consumed and processed from many disparate systems, including matching engines, trading counterparties, settlement entities and market infrastructure providers – and the related communications, which are predominantly emails, are overwhelming, cumbersome to manage and introduce risk.”
He added: “[DTCC Exception Manager] centralises and standardises exception processing to enable faster resolution, delivers a significant reduction in the number of exceptions and supports exceptions in trade validation and settlement processing.”
The platform is DTCC’s latest addition to its trade processing product suite, supporting securities transactions globally.
According to DTCC, the platform enables market participants to publish, manage and communicate exceptions through every stage of a trade.
Exception Manager also has a configurable risk dashboard to measure and chart exceptions based on risk criteria, it also identifies the root cause of operational breaks, such as incorrect standing settlement instructions (SSIs).
DTCC conducted a survey in mid-2017 among 364 senior buy- and sell-side professionals.
Some 78 percent of those asked said that missing or incomplete SSIs were the “biggest pain point” affecting post-trade processes.
Respondents were located in the Americas, Europe, Middle East, Africa, Asia-Pacific, Japan and Australia.
Matthew Stauffer, managing director and head of institutional trade processing at DTCC, said: “Trade data needs to be consumed and processed from many disparate systems, including matching engines, trading counterparties, settlement entities and market infrastructure providers – and the related communications, which are predominantly emails, are overwhelming, cumbersome to manage and introduce risk.”
He added: “[DTCC Exception Manager] centralises and standardises exception processing to enable faster resolution, delivers a significant reduction in the number of exceptions and supports exceptions in trade validation and settlement processing.”
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