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

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”

<