DTCC obtains FSA approval for European derivatives repository

DTCC has announced that its new European subsidiary, DTCC Derivatives Repository has received UK Financial Services Authority approval to operate as an FSA regulated service company. This new subsidiary will maintain global credit default swap data identical to that of its New York based trade information warehouse, as well as jointly housing the global equity derivatives repository.

DTCC says the move is intended to help ensure that regulators globally have access to CDS data, by establishing identical CDS data sets on two different continents.