DTCC Takes First Step on Centralized Data Provisioning

The Depository Trust & Clearing Corporation (DTCC) says it has improved its corporate actions ISO 20022 data product offering. This is one of the first product enhancements that marks the launch of a new centralized data provisioning service, DTCC Data Products.

The enhanced corporate actions service is available now to all subscribers.

DTCC chief data officer Ron Jordan says the company is at the beginning of a journey centralizing the provisioning of data products through a web portal, after a major rethink of this business. 

"DTCC has been provisioning data for a long time in its various settlement and asset services roles across many asset classes, as well as offering various reference data services like corporate actions," he says. "Traditionally, these have been very bespoke, but we have learned over the last couple of years that there is more emphasis on data and its consumption in financial institutions. Firms have demanded more data for use internally.

"While traditionally our data was used by operations groups mainly to make sure that clearance and settlement records were up to date and reconciled, those firms are more often saying that this same data sliced a little differently would be very useful to help in other areas where there are demands on them," Jordan adds.

These new uses include regulatory compliance, reducing risk and operational inefficiencies and gaining access to better market insight.

"We took another look at how we provision data at DTCC and decided it made more sense to centralize that provisioning," says Jordan.

The newly launched data portal, dtccdata.com, provides information on the first sets of data that will be provisioned and accessed via the portal later this year.

Corporate actions announcements are now available in ISO 20022 standard, as well as in the existing file format; and announcements will now be available in near-real time, and not just once a day, as it had been, according to Jordan.