A-Team Insight Blogs

DTCC Increases Transparency of Credit Default Swaps Market with Upgraded CDS Kinetics Platform

DTCC has enhanced its CDS Kinetics data platform to support demand for more transparency into the credit default swaps (CDS) market within the over-the-counter derivatives space. The platform provides position data on CDS sourced from DTCC’s Trade Information Warehouse including notional outstanding, net notional, and trading volume metrics on securities including single-name, index, and index tranche. The warehouse is a centralised infrastructure for reporting and asset servicing on approximately 98% of all credit derivative transactions outstanding worldwide.

Enhancements to the CDS Kinetics service acknowledge the importance of CDS as a critical data source for understanding market risk. The service previously offered point-in-time snapshots of CDS data and has now been upgraded to provide over 10 years of historical and time-series data, a new user interface with graphical representations, the ability to search for CDS instruments by attributions including underlying reference entity, market sector, market type, and geographical region, and extended analytics.

“The upgraded DTCC CDS Kinetics platform provides unparalleled transparency into the CDS market, offering insights on credit risk that will not only inform trading strategies, but will also help banks better prepare for potential market dislocations,” says Tim Lind, managing director of DTCC Data Services. “Now more than ever, it’s critical for firms to begin drawing on more robust and higher quality data sources to heighten their risk preparedness and response, as well as their overall business resilience.”

The CDS Kinetics platform will also be made available in DTCC’s API Marketplace, which allows direct programmatic access to DTCC processing functionality and includes documentation and training materials to help developers use the APIs.

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