DTCC launches automated CDS portal for regulators

The Depository Trust & Clearing Corporation (DTCC) announced today that it has launched an automated portal to provide regulators worldwide with direct, on-line access to global credit default swap (CDS) data registered in DTCC’s Warehouse Trust Company global repository. Currently 19 regulators around the world are already live on the portal.  DTCC says this is the first such global regulatory service of its kind in the financial market place and was designed based on guidance provided by the OTC Derivatives Regulators Forum (ODRF) regarding data access protocols. 

The portal allows for each regulator to access reports tailored to their specific entitlements as a market regulator, prudential or primary supervisor, or central bank.  These detailed reports are created for each regulator to show only the CDS data relevant to its jurisdiction, regulated entities or currency, at what has been deemed the appropriate level of aggregation. The information DTCC provides through the portal is consistent with the data-sharing guidelines outlined by the 40+ regulators and supervisors that comprise the ODRF.

For example, market regulators and prudential supervisors may have access to more granular – or transactional – information about individual institutions’ positions than would a central bank. Reports available to regulators via the portal include counterparty exposure, such as buy/sell positions for the regulated entity aggregated by counterparty and underlier, reference entity exposure, and aggregate positions where a large financial firm is underlying.

Information is also made available in the currency of denomination in which the regulator is domiciled. DTCC says it has provided, upon request, regulator reporting to more than 20 regulators on CDS information relevant to their areas of purview.