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Sell-Side Firms Help Buy-Side Clients Meet Reporting Obligations with DTCC Report Hub

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The Depository Trust & Clearing Corporation (DTCC) has released Report Hub, an assisted reporting model designed to allow sell-side firms to help buy-side clients with regulatory reporting mandates across 14 jurisdictions.

Sell-side firms including prime brokers and clearing brokers can use Report Hub to provide required counterparty trade data to buy-side clients that also use the hub. The sell-side firm submits trade details for underlying clients that can add supplemental data regarding the trade directly into Report Hub. Once submitted, Report Hub performs reporting eligibility checks across jurisdictional requirements and transmits the trade data for automatic reporting via an authorised trade repository.

The assisted reporting model also gives both counterparties access to Report Hub’s exception management monitoring and remediation functionality, with clear roles and responsibilities defined between the sell-side and its clients for remediating any failed submissions. The sell-side firm has access to Report Hub to view and remediate errors within Report Hub, and buy-side clients can monitor and fix any trade detail issues.

“We built DTCC Report Hub incorporating strategic insights from key stakeholders, including Barclays, to put the power of a robust reporting solution into our clients’ hands” comments Val Wotton, DTCC managing director, product development and strategy, repository and derivatives services.

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