DTCC launches pre- and post-trade reporting solution for clearing brokers and prime brokers

Rick Steves

The Depository Trust & Clearing Corporation (DTCC) has launched DTCC Report Hub’s assisted reporting model, allowing sell-side firms to assist their buy-side clients with regulatory reporting obligations around the world.

Report Hub is a pre- and post-trade reporting solution that helps firms manage the complexities of meeting multiple regulatory mandates across jurisdictions and asset classes.

The solution’s coverage enables users to manage the complexities of global trade and transaction reporting across 14 jurisdictions.

Clearing brokers and prime brokers can provide counterparty trade data to buy-side clients

The premier post-trade market infrastructure launched the Report Hub to help sell-side firms, including clearing brokers and prime brokers, to provide the required counterparty trade data to their buy-side clients, who also leverage Report Hub:

  • The sell-side firm submits trade details for their underlying clients, who can also add supplemental data regarding the trade directly into Report Hub.
  • Once submitted, Report Hub performs reporting eligibility checks across jurisdictional requirements and then seamlessly transmits the trade data for automatic reporting via an authorized trade repository, including the trade repositories of DTCC’s Global Trade Repository service (GTR).

The data sharing process is thus streamlined between counterparties, enabling users to leverage a central utility, seamlessly sourcing and reporting counterparty trade data required for successful compliance with regulatory obligations.

Report Hub features a monitoring and remediation functionality

Val Wotton, DTCC Managing Director, Product Development and Strategy, Repository and Derivatives Services, said: “We are pleased to provide our clients with DTCC Report Hub’s unmatched pre- and post-trade reporting capabilities leveraging our assisted reporting model. We built DTCC Report Hub incorporating strategic insights from key stakeholders, including Barclays, to put the power of a robust reporting solution into our clients’ hands. We are confident that the industry will benefit greatly from Report Hub’s unparalleled functionality.”

With the assisted reporting model, both counterparties have access to Report Hub’s exception management monitoring and remediation functionality, with clear roles and responsibilities defined between the sell-side and their clients for remediating any failed submissions. The sell-side firm has access to Report Hub to view and remediate errors within Report Hub, and their buy-side clients can monitor and fix any trade detail issues.

Gary Saunders, Managing Director, Global Head of Prime Derivative Services at Barclays, commented: “Barclays was proud to work with DTCC to share insights and perspectives to make Report Hub a go-to resource for sell and buy-side clients. The new Report Hub assisted reporting model will help to increase data transparency and drive more efficient self-reporting. Report Hub will also help industry participants reduce unnecessary costs and operationally intensive processes while creating a more seamless and efficient trade reporting process for all parties involved.”

  • Read this next

    Retail FX

    Weekly Roundup: John Oliver rips into MetaTrader, Binance to pay $10 billion

    Welcome to this week’s roundup, where we delve into the latest developments in the Forex, Fintech, and cryptocurrency markets. Stay ahead of the curve with our comprehensive overview of the week’s most impactful events and trends across these dynamic sectors.

    Retail FX

    Lark Funding reopens to US traders, MyFundedFX picks cTrader

    Canada-based prop trading firm Lark Funding announced it will once again welcome clients from the United States.

    Institutional FX

    Cboe FX volume falls to lowest level since summer

    Cboe’s institutional spot FX platform, known as Cboe Spot, today announced its trading volume for the month ending February 2024, which took a step back after a strong rebound in December.

    Retail FX

    ThinkMarkets secures lucrative DFSA license in Dubai

    Melbourne-based broker ThinkMarkets has secured a license from the Dubai Financial Services Authority (DFSA) after it has already incorporated its new subsidiary in the Dubai International Financial Center (DIFC).

    Digital Assets

    New Horizen Lays Out Its Vision Of A Modular, Proof Verification Layer For Web3 Networks

    Horizen is forging a new path for the future of blockchain with its New Horizen initiative, which is building a modular Proof Verification layer that’s dedicated to verifying cryptographic proofs for any settlement layer, beginning with Ethereum. 

    Digital Assets

    Karma3 Labs Raises a $4.5M Seed Round Led By Galaxy and IDEO CoLab to Build OpenRank, a Decentralized Reputation Protocol

    Using OpenRank, developers and web3 companies can build consumer apps where people can discover, use, fund, read, or buy something on-chain without worrying about getting spammed or scammed.

    Digital Assets

    Worldcoin down as Elon Musk sues OpenAI CEO Sam Altman

    Worldcoin’s (WLD) token dropped following news of a lawsuit against related company OpenAI. The lawsuit was filed by Elon Musk and accused OpenAI and CEO Sam Altman of breach of contract.

    Institutional FX

    Exegy’s Liquidity Lamp adds intraday data to outperform S&P 500 by 31.8%

    Exegy has incorporated intraday signals into its AI-powered iceberg order detection tool, Liquidity Lamp. By adding intraday data to a baseline mean reversion strategy, Exegy’s model outperformed the baseline by 10.5% and the S&P 500 (SPY) by 31.8%, respectively in the out-of-sample testing.

    Industry News

    Think Elon Musk backed your crypto exchange? ASIC’s latest reveal may shock you

    In an absolutely shocking turn of events that nobody could have possibly seen coming, the Australian Securities and Investments Commission (ASIC) has bravely stepped forward to reveal that, yes, those videos of Elon Musk passionately endorsing a cryptocurrency exchange are as fake as a three-dollar bill.

    <