Singapore/Hong Kong, 14 November 2019 – The Depository Trust & Clearing Corporation (DTCC) has been awarded Market Infrastructure of the Year in the 2nd Regulation Asia Awards for Excellence 2019, after a rigorous selection process involving a judging panel made up of subject-matter experts and the Regulation Asia editorial team. The award was presented at a ceremony in Singapore on 13 November 2019.
DTCC’s Global Trade Repository (GTR) service operates the only licensed trade repository in Singapore (which also acts as an approved trade repository in Australia), as well as a Japan trade repository and provides services for reporting in Hong Kong. The GTR has retained its leadership position in the Asia Pacific OTC derivatives markets, with over 400 clients reporting about 3 million open positions to ASIC, MAS, JFSA and HKMA each month, across five asset classes (where required). The world’s 30 largest banks and more than 80% of the largest 100 banks use DTCC’s trade repositories to fulfil their global reporting requirements.
In particular, the judging panel highlighted DTCC’s advanced preparation for reporting under the Securities Financing Transactions Regulation (SFTR), which is due to be implemented in the EU next year and is expected to have a major impact on Asia Pacific firms. A key highlight for the year was the launch of the GTR 2.0 APAC Portal in August 2019, which provides clients with direct electronic access to query the data stored in the repository and gain valuable insights through a client analytics dashboard.
Brad Maclean, Co-founder and Executive Chairman, Regulation Asia said: “The award recognises DTCC’s long and successful track record in enabling market participants to meet their reporting obligations in an open and cost-effective manner using a single infrastructure. In addition, DTCC has demonstrated a commitment to continuous improvement through close collaboration with regulators, market participants, and other stakeholders, not to mention its willingness to explore new technologies and embrace disruption.”
In the 2018 Regulation Asia Awards, DTCC won Best Solution in Trade Reporting for its GTR services. At the time, a re-architected GTR platform had been launched in Australia and Singapore, bringing improved usability, reduced complexity and increased transparency to users.
About the Regulation Asia Awards for Excellence 2019
Regulation Asia Awards for Excellence recognises technology companies, legal and consulting firms, and exchanges that have shaped the regulatory landscape in Asia Pacific, as well as outstanding technology projects both in mature and emerging markets by large tech firms and innovative startups that help meet the requirements of a specific regulatory change infrastructure.
For a full list of award winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. Since 2013, our audience and subscription base have grown to include regulatory bodies, exchanges, banks, asset managers and service providers, allowing us to play a key role in the regulatory agenda.
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