The Depository Trust & Clearing Corporation’s (DTCC) Deriv/SERV business has had a record year of performance supporting the global over-the-counter (OTC) derivatives market, with transaction volume tripling in 2006 and DTCC providing a first-time rebate of $3 million to its global derivative dealer customers.
“DTCC’s vision is to help our OTC derivative customers minimize operational risk, lower costs and facilitate growth by delivering a centralized, borderless automated solution to process trades in this dynamic market,” says Robert McGrail, executive managing director, Domestic and International Core Services, DTCC.
“Following a year of exceptional performance for Deriv/SERV, we are pleased to provide this first time rebate to our dealer customers,” he adds.
“Though modest, it reflects our commitment to bringing the benefits of cost efficiency back to our clients. We anticipate making future rebates as our transaction volume and client base continue to increase and we achieve the economies of scale that drive costs down further.”