About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

DTCC Partners Snowflake to Improve Data Access, Sharing and Usage Across Services

Subscribe to our newsletter

The Depository Trust & Clearing Corporation (DTCC) is partnering Snowflake to improve how data is accessed, shared and leveraged across a number of its services. Long term, using the Snowflake Data Cloud, DTCC aims to expand market transparency, reduce risk, and provide greater operational efficiency.

The partnership extends an existing relationship between the companies and allows DTCC to use Snowflake technology to build applications that improve how data is accessed, and provide an enhanced user experience with greater interactivity and access controls. DTCC is exploring several opportunities for these capabilities including risk management, regulatory reporting for derivatives and securities financing transactions, and institutional post-trade processing.

“We have been using Snowflake’s platform since 2018 and view its data applications as an integral part of DTCC’s modernisation strategy,” says Lynn Bishop, chief information officer at DTCC. “This strategic initiative will enable us to build on our success and further transform the data ecosystem, unlocking new insights and supporting greater transparency to protect markets, increase efficiency, drive business and propel the industry forward.”

Christian Kleinerman, senior vice president of product at Snowflake, comments: “As an early adopter of data in the cloud, DTCC is in a prime position to take advantage of Snowflake’s platform and native application framework to alter the way financial markets access and use data. Snowflake has been core to several DTCC modernisation initiatives, this partnership should drive deeper insights for its clients.”

Most recently, DTCC and Snowflake collaborated to facilitate the delivery of DTCC’s Kinetics data offerings to clients. DTCC Kinetics provides market insight across multiple asset classes. With the Snowflake Data Cloud, DTCC Kinetics users can access equity and fixed income data products through Snowflake Marketplace. In the coming months, based on client feedback and growing demand, DTCC will expand DTCC Kinetics capabilities on Snowflake Marketplace to additional asset classes including ETFs, reference data, and corporate actions.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: How to maximise the use of data standards and identifiers beyond compliance and in the interests of the business

Date: 18 July 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Data standards and identifiers have become common currency in regulatory compliance, bringing with them improved transparency, efficiency and data quality in reporting. They also contribute to automation. But their value does not end here, with data standards and identifiers...

BLOG

Murex and Alveo Partner to Provide Murex Users with Alveo Product Master Datasets

Alveo, a provider of cloud-based market data management services, and Murex, a vendor of trading, investment management, risk and processing solutions, have partnered to bring together Murex’s MX.3 front-to-back-to-risk investment management system (IMS) and Alveo’s financial data management solution to support client data operations and provide MX.3 users with accurate, dependable and auditable data. The...

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

Best Practice Client Onboarding

Client onboarding is central to the success of banks, yet it continues to present challenges and the benefits of getting it right are difficult to achieve. The challenges arise from siloed systems, manual processes and poor entity data quality. The potential benefits of successful implementation include excellent client experience, improved client acquisition and loyalty, new business opportunities, reductions in costs, competitive advantage, and confidence in compliance.