The Depository Trust & Clearing Corporation (DTCC) said it has launched a new online service, SMART/Source, which provides quick and easy browser access over the internet to security and reference data collected and maintained for the over two million securities eligible for processing by DTCC’s depository subsidiary, The Depository Trust Company (DTC).
Accessible through SMART (DTCC’s Securely Managed And Reliable Technology) and presented in an easy-to-navigate graphical interface, users can log in to SMART/Source to confirm security events – including any current, historical or future announcements on reorganizations, redemptions and dividend payments – for all DTC-eligible securities, the company said. Access to the data will be available not only for current customers of DTC, but for any organization that has a continuing need to access such data, it pointed out.
“DTCC is trusted by the industry as a reliable source of event and reference information, and it seemed a natural extension for us to develop this type of general inquiry functionality for customers,” said Daniel Thieke, product manager, DTCC Network Services. “Currently, firms have to draw this information from multiple sources. With SMART/Source, they can go online – direct to the depository as the ‘source’ of the information – and verify whatever information they have.”
Initially developed for a broad customer base, including the non-traditional DTCC participants, such as money managers, data vendors and exchanges, SMART/Source also benefits DTCC’s customers’ front and middle offices, as well as other firms who are interested in this information but might not otherwise require an actual SMART net-work connection to DTCC.
In pilot for six months, DTCC worked with several firms to establish the business requirements for SMART/Source, including the advanced search capabilities for reference and event data. Now widely available to all users, DTCC is already planning future enhancements for the next iterations of SMART/Source, including a customized “watch list” of securities and the ability to perform an immediate file transfer protocol (FTP) download of that data, a spokesman for the company said.