To enfeeble market concerns about transparency the Depository Trust & Clearing Corporation begins to publish aggregate market data from its Trade Information Warehouse (Warehouse), the worldwide central trade registry it maintains on credit derivatives. From Tuesday, November 4 and continuing weekly, DTCC will post on its website www.dtcc.com/derivserv the outstanding gross and net notional values (“stock” value) of credit default swap (CDS) contracts registered in the Warehouse for the top 1,000 underlying single-name reference entities and all indices, as well as certain aggregates of this data on a gross notional basis only.
The data will be divided into two sections. Section 1 will show the outstanding notional values at a given point in time (the end of each week). Section 2 will show data relating to the weekly confirmed trade volume, or “turnover,” with respect to the same underlying reference entities and indices, as well as similar aggregations of such data. Section 2 data will be published beginning the week after the initial publication of outstanding notional values.
DTCC Deriv/SERV LLC, a wholly-owned subsidiary of DTCC, offers the Trade Information Warehouse as a service to register and automate trade database supporting the post-trade processing of over-the-counter derivatives contracts over their lifecycles, from confirmation through to final settlement. The Warehouse is the OTC derivatives industry’s electronic central registry for credit default swaps.
L.D.