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

Omgeo and DTCC Establish Data Feed Between CrossCheck and Trade Information Warehouse

Subscribe to our newsletter

Omgeo and the Depository Trust & Clearing Corporation (DTCC) have added an automated data feed between Omgeo’s centrally hosted, exception management solution, CrossCheck, and DTCC’s post-trade database for OTC derivatives, Trade Information Warehouse. According to the vendors, the link is designed to reduce operational risk by allowing market participants to align their OTC derivatives portfolios with contract records maintained by the DTCC’s database.

Steve Matthews, managing director of product at Omgeo, explains: “By linking CrossCheck to the global standard for centralised and secure data for OTC derivatives at DTCC’s Trade Information Warehouse, our clients can be assured that their risks are further mitigated throughout the length of their derivatives contracts.”

Accordingly, the new link enables Omgeo clients that are also customers of DTCC’s Deriv/SERV to receive an automatic feed of relevant credit derivative trade data from the Trade Information Warehouse via CrossCheck. The vendors claim that this feed allows customers to compare their portfolio records against the DTCC database to ensure agreement with the golden copy of trade details for positions with all counterparties who use Deriv/SERV.

Peter Axilrod, DTCC managing director of business development and Deriv/SERV, reckons that the benefits to Omgeo are clear: it can strengthen its counterparty risk management services.

At a time when counterparty risk is so high profile, this service should garner some interest from the market. However, although it will benefit the vendor’s current customer base, only time will tell whether the new link is compelling enough to bring on board new clients.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: In data we trust – How to ensure high quality data to power AI

Artificial intelligence is increasingly powering financial institutions’ processes and workflows, encompassing all parts of the enterprise from front-office to the back-office. As organisations seek to gain a competitive edge, they are trialling the technology in variety of ways to streamline and empower multiple use cases. Some are further than others along the path to achieving...

BLOG

Data’s Role in AI Transition and Value Creation: Data Management Summit London Preview

The rapid adoption of artificial intelligence by financial institutions has required a heavy data management uplift as organisations have upgraded their systems to incorporate the new technology. It has also provided greater opportunity to squeeze even more value from data by enabling its efficient deployment across enterprises. Just how companies manage data for AI to...

EVENT

Data Licensing Forum 2025

The Data Licensing Forum will explore industry trends, themes and specific developments relating to licensing of financial market data from Exchanges and Data Vendors.

GUIDE

Enterprise Data Management Europe 2010

he US may seem to be ahead of the rest of the world in terms of championing the data management cause with the inclusion of reference data focused items in the Dodd-Frank Act, but Europe is not too far behind. Senior European level officials such as European Central Bank (ECB) president Jean-Claude Trichet have taken...