Linedata Launches New Interface to DTCC’s CTM in Support of MiFID II and Industry Requirements

Offers expanded asset class support to help clients meet requirements for automated post-trade processes and allows global users to better manage the post-trade process and focus on core competencies and business differentiation

MiFID II implementation likely to be set back even further

Linedata (Euronext Paris:LIN), the global solutions provider dedicated to the investment management and credit industries, today announced the extension of its 10-year strong partnership with The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure. Both firms continue to enhance clients’ workflows by launching an upgraded interface between DTCC’s strategic platform for the central matching of cross-border transactions, CTM, and its order management system (OMS) Linedata Longview, as the sector readies itself for MiFID II implementation in January 2018.

Linedata’s partnership with DTCC allows asset managers and hedge funds, using either deployed or hosted versions of Linedata Longview, to directly interface with CTM, which is a major component of DTCC’s Institutional Trade Processing product suite, thereby enabling all users to send trade allocations to their broker/dealers and automatically generate affirmations for matched trades in real-time.

This helps to significantly reduce both costs and risks for Linedata users by offering a better way to monitor the post-trade workflow and any exceptions. Users also benefit from connectivity to DTCC’s OASYS, its U.S. domestic trade allocation and acceptance service that communicates trade and allocation details.

Linedata’s new Extensible Markup Language (XML) interface allows Linedata clients to match transactions across extended asset classes, including cash and fixed income instruments as well as futures, options, equity swaps (contracts for difference) and repurchase agreements (repos), allowing users to process multiple asset class trades on a single platform.

The new interface leverages CTM’s latest PUSH technology, which pushes messages to clients in real-time as opposed to legacy technology that pulled messages on a scheduled basis. By leveraging MQ connectivity, Linedata can now more efficiently connect clients to their hosted OMS version, thereby avoiding the installation of older, FIX-based CTM interfaces into their environments.

Gary Brackenridge, Global Head of Asset Management at Linedata, said, “We’re pleased to extend our partnership with DTCC to enable our clients to better manage the post-trade process.”

Matthew Nelson, Managing Director of Institutional Trade Processing at DTCC, added, “Linedata is a strategic partner, and we work closely to ensure that our over 50 mutual clients can seamlessly connect from Linedata Longview to DTCC’s CTM, which includes commission reporting features to meet MiFID II obligations. By upgrading their interface, our mutual clients can now do more in less time at lower cost in an environment of increasing global regulatory requirements.”

  • Read this next

    Retail FX

    Weekly Roundup: FX prop firms switch to cTrader, who moved $1.35B BTC?

    The foreign exchange and cryptocurrency markets are always active, and this past week was no exception. Stay ahead with a selection of essential stories and updates that matter most to market participants.

    Digital Assets

    Bitcoin breaks all records with a massive $1.347 billion transaction

    This transaction has surpassed previous records, setting a new benchmark for Bitcoin trades. Before this event, the largest Bitcoin transactions included a $1.1 billion trade in April 2020 involving 161,500 BTC, and other significant transactions ranging from $491 million to $1.033 billion throughout 2019 and 2020.

    Digital Assets

    Uniswap debuts Ethereum ‘uni.eth’ subdomains

    Decentralized exchange platform Uniswap has integrated Ethereum Name Service (ENS), allowing users to create human-readable domain names and cryptocurrency wallet addresses using .eth endings.

    Web3

    Magic Square Expands with TruePNL Acquisition

    Binance’s web3 app store, Magic Square, acquired token platform TruePNL in a cash deal this week for an undisclosed sum. The deal brings TruePNL’s infrastructure (excluding branding & token) under Magic Square’s wing. Initially seeking a partnership, Magic Square opted for a full acquisition.

    Crypto Insider

    The Future of Prediction Markets? Zeitgeist Launches Decentralized Court System

    Polkadot-powered prediction market protocol Zeitgeist has announced the launch of its latest innovation: a decentralized court system.

    Digital Assets

    Crypto exchange Kraken fires back at SEC lawsuit, claiming overreach

    Crypto exchange Kraken is pushing back against the U.S. Securities and Exchange Commission (SEC), seeking to toss out a lawsuit that accused the platform of operating without proper registration.

    Industry News

    Exness Named a Best Place to Work in 2024

     Global leader Exness, tops in retail trading volume, earns 2024 “Best Place to Work” award, cementing its employee-centric culture after three prior years of winning the Cyprus national title.

    Digital Assets

    Swan Bitcoin taps Bakkt for crypto offering in the US

    “We are thrilled to be taking this exciting step forward in our partnership with Swan. This is just the beginning of our collaboration, as we intend to explore further growth opportunities together in the future, including expansion into international markets.”

    Digital Assets

    Polkadot Awards Bifrost a 500,000 DOT Loan to Enhance Liquid Staking Adoption

    Bifrost, a leader in liquid staking solutions, has secured a 500,000 DOT loan from Polkadot’s treasury to expand the reach and utility of its vDOT product within the ecosystem.

    <