The Depository Trust & Clearing Corporation (DTCC), has launched an automated portal to provide regulators worldwide with direct, on-line access to global credit default swap (CDS) data registered in DTCCs Warehouse Trust Company LLC (Warehouse Trust) global repository.
Currently 19 regulators around the world are already live on the portal. This is the first such global regulatory service of its kind in the financial market place and was designed based on guidance provided by the OTC Derivatives Regulators Forum (ODRF) with respect to data access protocols.
In constructing this new portal, DTCCs goal is to provide access to OTC derivatives data to regulators in a timely, fair, and seamless manner, without any preferential treatment across geographic jurisdictions worldwide, said Stewart Macbeth, DTCC managing director and general manager of DTCCs Warehouse Trust subsidiary, which operates DTCCs global CDS trade repository. We have been committed since the inception of DTCCs central repository to providing data on global OTC derivatives transactions so that regulators can view risk exposures from a central vantage point as a means to help protect markets against systemic risk. DTCC anticipates that the creation of this portal will be of great value to global financial authorities and banking supervisors in fulfilling their regulatory mission in this regard.
D.C.