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: Strategies and solutions for unlocking value from unstructured data

Unstructured data accounts for a growing proportion of the information that capital markets participants are using in their day-to-day operations. Technology – especially generative artificial intelligence (GenAI) – is enabling organisations to prise crucial insights from sources – such as social media posts, news articles and sustainability and company reports – that were all but...

BLOG

Agentic AI Deployment Presents Potentially Dangerous Data ‘Trust Paradox’

Artificial intelligence deployment in capital markets’ data processes may be approaching an inflection point that, if not managed properly, could introduce dangerous risks to institutions’ operations. The growing deployment of anonymous agents has the potential to hardwire data errors into workflows, magnifying data weaknesses as the automating technology scales processes, according Informatica from Salesforce. The...

EVENT

AI in Capital Markets Summit London

Now in its 3rd year, the AI in Capital Markets Summit returns with a focus on the practicalities of onboarding AI enterprise wide for business value creation. Whilst AI offers huge potential to revolutionise capital markets operations many are struggling to move beyond pilot phase to generate substantial value from AI.

GUIDE

Valuations – Toward On-Demand Evaluated Pricing

Risk and regulatory imperatives are demanding access to the latest portfolio information, placing new pressures on the pricing and valuation function. And the front office increasingly wants up-to-date valuations of hard-to-price securities. These developments are driving a push toward on-demand evaluated pricing capabilities, with pricing teams seeking to provide access to valuations at higher frequency...