DTCC adds two reporting features: Trade Reporting Analytics and UTI Exchange

New features aim to streamline reporting and enhance data quality ahead of upcoming changes to trade reporting rules.

DTCC, a leading global post-trade financial services company, has launched a set of new features to its Report Hub service as the industry braces for a revamp of trade reporting regulations.

The added capabilities, Trade Reporting Analytics and UTI (Unique Trade Identifier) Exchange, are intended to help financial firms meet the increasingly complex regulatory mandates for derivatives and securities financing transactions across multiple jurisdictions.

Trade Reporting Analytics offers over 100 data insights

Trade Reporting Analytics, the newest addition to the DTCC Report Hub service, offers over 100 data insights aimed at helping firms identify errors, trends, and benchmark their performance against an anonymized group of peers. This feature has undergone validation by a pilot user group that includes some of the world’s largest financial institutions, such as J.P. Morgan, Nomura Americas Services, LLC, and Wells Fargo.

Bill Hughes, Head of Operations, Americas, at Nomura Americas Services, LLC, said, “As the industry continues to develop tools to focus on the quality of reported data we welcome the introduction of DTCC Report Hub’s Trade Reporting Analytics.

“The tool enables us to evaluate our trade and transaction data for accuracy, completeness, and timeliness across reporting regimes while tracking our performance against an anonymized peer group, a uniquely valuable benefit.”

UTI Exchange automates sharing between counterparties

DTCC’s new UTI Exchange, delivered via API, facilitates the sharing of UTIs by counterparties, a requirement under most major derivatives regulatory reporting regimes. The feature aims to automate this exchange, allowing UTIs to be automatically enriched onto a trade and submitted using the platform’s Pre Reporting service.

Chris Childs, Managing Director and Head of Repository and Derivatives Services at DTCC, commented, “As the industry leader in trade reporting, we are committed to driving efficiencies, mitigating risks, and mutualizing costs associated with regulatory compliance. The demand for pre and post reporting solutions has never been greater, and we remain committed to expanding DTCC’s trade reporting ecosystem and our service capabilities to support our clients’ evolving needs.”

The enhancements come at a crucial time when financial firms are grappling with changing trade reporting rules. With 50 years of industry experience, DTCC aims to centralize and standardize the processing of financial transactions to mitigate risks and drive efficiencies in the global financial markets.

By adding these new features to its Report Hub service, DTCC is positioning itself to be at the forefront of helping the financial industry adapt to new regulatory landscapes.