DTCC RECEIVES REGULATORY APPROVAL TO PROVIDE DERIVATIVES TRADE REPORTING SERVICES IN SWITZERLAND IN SUPPORT OF FINFRAG

DTCC RECEIVES REGULATORY APPROVAL TO PROVIDE DERIVATIVES TRADE REPORTING SERVICES IN SWITZERLAND IN SUPPORT OF FINFRAG
08.01.2019 10:55 am

DTCC RECEIVES REGULATORY APPROVAL TO PROVIDE DERIVATIVES TRADE REPORTING SERVICES IN SWITZERLAND IN SUPPORT OF FINFRAG

Infrastructure

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that it has received regulatory approval from the Swiss Financial Market Supervisory Authority to provide trade reporting services in Switzerland via DTCC’s Global Trade Repository service (GTR) in Europe. 

DTCC’s GTR in Europe is the largest European Markets Infrastructure Regulation (EMIR)-registered trade repository in terms of reports collected from its clients, according to figures  from the European Securities Markets Authority (ESMA). The service has more than 3,500 clients sending over 500 million messages per month, with 46 European regulators regularly accessing its data.

Now having also obtained recognition as a Foreign Trade Repository in Switzerland, GTR will further expand its services to market participants in support of reporting obligations that fall under the Swiss Financial Markets Infrastructure Act (FMIA), also known as FinfraG. FinfraG aligns Swiss derivatives trading regulation with international standards and requires that firms with a registered office in Switzerland report their derivatives trades to an authorised or recognised trade repository. 

Val Wotton, Managing Director, Product Development and Strategy, Derivatives and Collateral Management at DTCC, said: “We are pleased to have received regulatory approval to provide trade repository services in Switzerland. Market participants continue to seek a single platform that handles trade reporting across multiple jurisdictions and asset classes, and we are proud to extend our capabilities to Swiss market participants and to provide increased value to our clients.” 

Today, GTR provides derivatives trade reporting services through its registered trade repositories across several jurisdictions, including the United States, Canada, Europe, Hong Kong, Singapore, Japan and Australia, and across all over-the-counter (OTC) asset classes, including credit, interest rates, equities, foreign exchange and commodities. With this announcement, DTCC’s GTR in Europe will now be able to fully support EMIR, Securities Financing Transactions Regulation (SFTR), subject to regulatory approval, and FinfraG regulations from a single platform.

Related News

Avelacom enhances its low latency data services to trade on HKEX markets

Avelacom, the high-performance global connectivity and IT infrastructure provider for the financial services industry, has enhanced its high-speed network performance and... Read more »

Copper covers 96% of the crypto market after Walled Garden expansion

Copper, the London-based custodian for digital assets, has expanded its Walled Garden infrastructure and is now connected to the top 15 exchanges – including: Coinbase, ... Read more »

Avelacom Launches Multi-Cloud Solution to Accelerate Connectivity to Cryptocurrency Exchanges

Avelacom, the high-performance global connectivity and IT infrastructure provider for the financial services industry, has launched its multi-cloud connectivity solution to... Read more »

New Nintex Research Shows UK Businesses Need Strong Values and Corporate Cultures to Attract and Retain Gen Z Talent

A new study, The Gen Z Effect on Workplaces in the UK, has uncovered the career drivers, views and values of the largest generational population in the world.... Read more »

Tarkan Maner Joins Nutanix as Chief Commercial Officer

... Read more »

B-Hive hands over the torch to the strong community it established in just three years

B-Hive, one of the most successful fintech ecosystems in Europe, announces that the company has reached all original goals set... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel