DTCC launches new LCR data service 24 October 2016 New York Reporter: Drew Nicol
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The Depository Trust & Clearing Corporation (DTCC) has secured Barclays as its first client to use its new liquidity coverage ratio (LCR) data service.
The LCR data service comes under the umbrella of DTCC’s Data Products offering, which aims assist firms manage their buffer requirements for liquidity facilities.
The service can support commercial paper (CP) obligations in order to meet more stringent regulatory capital requirements set down in Basel III and other regulatory requirements, while simultaneously seeking cost-efficient ways to enhance visibility into obligations.
The post-trade service provider first launched its DTCC Data Product suite in 2015 and has developed the offering to the point where it plans to include data solutions that cover all major asset classes, such as equities, derivatives and fixed income, along with its benchmark, referential and liquidity data categories.
Navneet Kaur, business line treasurer, portfolio management at Barclays, said: “DTCC’s new LCR Data Service has significantly enhanced our ability to understand buffer requirements. DTCC’s completeness of data coverage in this market has made its solution very comprehensive.”
“When banks issue facilities to corporates to provide liquidity against outstanding CP they don’t always have a precise view of when the underlying corporates’ CP obligations are due,” said Ron Jordan, managing director of data services at DTCC.
“The LCR Data Service allows banks to receive overnight delivery of aggregated maturities based on outstanding CP market positions, and refine buffer requirements relevant to market exposure, thus allowing banks to manage their business more efficiently while complying with liquidity coverage mandates.”
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