The Depository Trust & Clearing Corporation (DTCC) has launched its enhanced Institutional Trade Processing (ITP) service, ITP Data Analytics. which enable broker/dealers and investment managers to measure and compare their operational performance against counterparties, industry standards and peers.
ITP Data Analytics, which replaces DTCC’s legacy Benchmarks service, consumes underlying daily transaction activity from CTM, DTCC’s post-trade central matching service.
Firms’ data is aggregated and analysed across multiple metrics and dimensions, providing insights on operational performance across asset classes as well as comparisons to industry averages, counterparty timeliness and efficiency.
The data is displayed on a graphical, dynamic dashboard that provides customisable functionalities, and the reports are available for direct download.
The new service also provides dedicated metrics and analyses on data points that can help firms prepare for the proposed move in the US to a T+1 settlement cycle, and in the prevention of failed trade penalties under regulations such as Europe’s Central Securities Depositories Regulation (CSDR).
Trade lifecycle metrics including Same Day Entry, Same Day Agreement and Touch Rate help firms assess their readiness for T+1 and the proposed mandate for Trade Date Affirmation in the US and their ability to comply with CSDR.
DTCC said ITP Data Analytics gives firms new insights to drive no-touch processing, increase client satisfaction, reduce costs, and identify firm-specific operational competitive advantages.
“The new, modernised ITP Data Analytics service comes at a critical time for the financial industry, when firms must begin preparing for the US market’s move to T+1, and also comply with regulatory changes like CSDR,” said Matthew Stauffer, managing director, head of institutional trade processing at DTCC and president & CEO, DTCC ITP.
“We are pleased to provide this comprehensive analytical tool to enable firms to dgain new insights into their operational performance to gain a competitive advantage, while also prioritising their clients’ needs.”
©Markets Media Europe 2022
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