Singapore/Hong Kong, 14 November 2023 – DTCC was awarded Market Infrastructure of the Year in the 6th Regulation Asia Awards for Excellence 2023 at an in-person ceremony on 14 November 2023.
This award recognises financial market infrastructures that have demonstrated exceptional leadership in driving industry modernisation, enhancing industry practices and promoting innovation, with the aim of minimising financial system risk, boosting market efficiencies, improving transparency, and reducing industry costs.
DTCC was recognised for its Global Trade Repository service (GTR), which provides the core infrastructure for derivatives trade reporting. Over the past year, DTCC has been investing heavily in technology, especially cloud technology, to improve its data processing capabilities and enable it to accommodate major revisions to OTC derivatives trade reporting rules in Singapore, Australia and other key APAC markets.
As a key market infrastructure, DTCC has been working closely with key APAC regulators in Australia, Singapore, Japan and Hong Kong, as they implement their new rules. DTCC has been equally focused on supporting GTR clients’ readiness for compliance by creating the message specifications and functional change documents required for successful reporting. DTCC’s consulting arm has also designed jurisdictional specific test packs to empower firms with the tools that they need to verify their system readiness for the new rules.
The Regulation Asia awards panel credited DTCC for a broad range of initiatives and achievements throughout the past year, each aimed at improving industry practices and reducing risks within the wider market ecosystem. “DTCC plays a pivotal role in modernising the trade reporting landscape, achieving standardisation of global derivatives market data, educating market participants, and improving the ability of regulators to monitor for new and emerging risks,” remarked one judge.
About the Regulation Asia Awards for Excellence 2023
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.
For a full list of the award 2023 winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 13,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.