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Treasury & Capital Markets
DTCC launches regulatory reporting service
Solution enables brokers to assist buyside clients with reporting across jurisdictions
The Asset 22 Nov 2022

The Depository Trust & Clearing Corporation (DTCC) has launched a service enabling sellside firms to assist their buyside clients with regulatory reporting obligations around the world.

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

Using the assisted reporting model, the sellside 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.

Val Wotton, DTCC managing director, product development and strategy, repository and derivatives services, comments: “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, which currently covers 14 jurisdictions, both counterparties have access to Report Hub’s exception management monitoring and remediation functionality, with clear roles and responsibilities defined between the sellside and their clients for remediating any failed submissions.

Gary Saunders, managing director, global head of prime derivative services at Barclays, adds: “The new Report Hub assisted reporting model will help to increase data transparency and drive more efficient self-reporting. It 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.”

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