ICE Trust Exceeds US$2 Trillion Mark in Cleared CDS Transactions
IntercontinentalExchange (ICE), an operator of regulated global futures exchanges, clearing houses and OTC markets, announced that ICE Trust US (ICE Trust) has surpassed the US$2 trillion mark in notional value cleared for North American credit default swap (CDS) contracts. For the week ending 11 September, ICE Trust cleared US$41 billion in notional, bringing total cleared...
DTCC Provides Further Market Transparency on OTC Credit Derivatives
The Depository Trust & Clearing Corporation (DTCC) today has brought further transparency to the global credit default swaps (CDS) market, worth more than US$31 trillion, by expanding its public release of CDS data maintained in its Trade Information Warehouse to include historical information on those contracts. The warehouse is a comprehensive global repository for the...
DTCC Values Additional CDS Contracts in Trade Information Warehouse at US$5.7 Trillion
The Depository Trust & Clearing Corporation (DTCC) reported today that 216,765 credit default swaps (CDS) contracts valued at approximately US$5.7 trillion in gross notional value were entered into its Trade Information Warehouse (Warehouse) by market participants in the global OTC derivatives market. These trade submissions met in part industry commitments made to the Federal Reserve...
Reval Aims to Serve as Trade Repository for OTC Derivatives
In an effort to aid its corporate clients as well as the Obama administration’s plans to bring transparency to the US$592 trillion OTC derivatives market, Reval, a global provider of derivative risk management and hedge accounting solutions, has announced its intent to serve as a trade repository for OTC derivatives used by corporate end users....
DTCC’s Donahue Champions Single Trade Repository for OTC Derivatives
Donald Donahue, chairman and CEO of the Depository Trust & Clearing Corporation (DTCC), today stressed that a single trade repository for OTC derivatives contracts is essential to mitigating risk and enhancing transparency in the market. Donahue made his remarks as part of his keynote address at a US Chamber of Commerce discussion titled “Modernising Derivatives...
Buy Side Firms Must Take Heed of the Scale of the Changes Required as a Result of the OSI, Say TowerGroup and Capco
The buy side must understand and appreciate the urgency of preparing adequately for the incoming Options Symbology Initiative (OSI), said speakers during Capco’s recent webinar on the subject. The move to the Options Clearing Corporation’s (OCC) 21 character OSI code in order to support non-standard options will impact every level of a firm’s operations, warned...
Swift Selects Quantum4D to Provide Data Interface to SwiftNet
Swift is now using Quantum4D’s holographic analytics software platform to improve its ability to model its global network and understand its structure. Annually, as many as three billion messages go around the world via the Swift network. The challenge was to see how new developments in next generation interfaces might improve Swift’s ability to see...
CGS and FOW Tradedata Launch Cusip Service for US Equity Options
Two months after the formal announcement of its partnership with UK-based futures and options specialist FOW Tradedata, Standard & Poor’s Cusip Global Services (CGS) business has launched its new Cusip Options Service for US listed equity options. The vendor began this year demonstrating an aggressive stance towards extending its reach into other areas of the...
DTCC Calls for Single Trade Repository for OTC Derivatives Contracts
The Depository Trust & Clearing Corporation (DTCC) has called for maintaining a single trade repository for OTC derivatives contracts during testimony before a subcommittee of the House Financial Services Committee. Larry Thompson, DTCC general counsel, said: “We are concerned that some in the OTC derivatives market may assume once a trade guarantee is provided through...
Omgeo Upgrades Alert Database with Expanded Coverage and Compatibility Tests
As hinted by Steve Matthews, managing director of product at Omgeo, when he spoke to A-Team Group last month, the post-trade specialist has now added new functionality to its standing settlement and account instructions (SSI) database, Alert. The new functionality, which has been dubbed Omgeo Alert New Markets and Validations, includes expanded instrument coverage and...