The Depository Trust & Clearing Corporation (DTCC), a pillar of post-trade market infrastructure, is joining forces with real-time transactional compliance provider Droit. The partnership will enable market participants to leverage Droit’s reporting eligibility capabilities within DTCC’s Pre-Reporting Transformation Services for supported G20 regimes, as well as the forthcoming Securities Financing Transactions Regulation (SFTR).
The joint offering is designed to mitigate regulatory risk by allowing firms to apply reporting eligibility logic before submitting transactions to the relevant registered trade repository.
DTCC’s Pre-Reporting Transformation Services assist clients to normalise, enrich and validate trade data – typically spread across a myriad of disparate sources, in varying formats – before it can then be submitted to the registered trade repository.
The addition of Droit’s ADEPT platform will provide clients with the option of including pre-installed reporting decision-making as part of DTCC’s one-stop solution for both SFTR and derivatives reporting regimes.
Market participants can now utilise DTCC’s Pre-Reporting Transformation Services for all key components of a regulatory reporting stack, using Droit to determine the full global cross-regulatory reporting implications and obligations associated with a transaction in real-time as well as receive complete auditability and traceability through to fully digitised regulatory text.
“Regulatory compliance is a key issue for market participants across the post-trade space,” says Val Wotton, Managing Director of Product Development & Strategy, Derivatives & Collateral Management at DTCC. “[We] will continue to work with our clients to help them understand how new and existing regulations can affect their day-to-day processes, and where we can provide value-add solutions.”