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DTCC Expands Public Data On OTC Credit Derivatives

Depository Trust & Clearing Corporation (DTCC) has expanded its public release of data in the trade information warehouse's global repository to include a breakout of outstanding credit default swap (CDS) contract values in their currencies of denomination.

This added information is expected to help provide more transparency into the risk exposure of a particular currency to the CDS market.

The warehouse is a global repository for the OTC credit derivatives market. DTCC gathers and stores in this global repository information on OTC credit derivatives and performs post-trade processing functions such as automated calculation, netting and central settlement of payment obligations, as well as settlement of credit events such as bankruptcies.

Stewart Macbeth, managing director and head of the trade information warehouse at DTCC, said: “Because nearly all credit derivatives transactions are maintained centrally in the warehouse’s global repository, the industry and regulators worldwide are able to get a consolidated view of risk in the market place, which is critical especially in times of crisis. The breakout of the data by currency was a request from the OTC Derivatives Regulators Forum, a group that is globally coordinating requirements for regulatory and public data.”