DTCC celebrates 1,800 companies’ migration to central matching service, CTM

Large brokerage firms can reduce some post-trade processing costs for cash securities by 20-25%, according to DTCC.

According to the Depository Trust & Clearing Corporation (DTCC), the community that takes advantage of DTCC’s Central Trade Manager (CTM) service for domestic trade matching in the United States now has more than 1,800 companies.

This means that 99% of US trade flow volumes on the old DTCC OASYS service have migrated or are in the process of migrating to CTM.

CTM is DTCC’s platform for central reconciliation of cross-border and national transactions. The service automates the process of confirming transactions across multiple asset classes, including equities, fixed income, repurchase agreements (repos), and listed options.

Organizations looking to further consolidate global post-trade flows on a single platform can use CTM to manage their entire post-trade matching process across asset classes and jurisdictions, and benefit from ‘an average match rate of 95% same day.

The service includes configurable match rules, enrichment of DTCC’s ALERT database with 11.5 million standing settlement and account instructions, SWIFT messaging and, for transactions in the United States, the direct integration with DTC regulation.

CTM’s Match to Instruct (M2I) workflow automatically triggers trade assertion and delivery to DTC for settlement when a trade match between an investment manager and an execution broker occurs.

By eliminating the need for either party to take further action, CTM speeds up the settlement cycle: nearly 100% confirmation rate by 9:00 p.m. on trade day.

Large brokerage firms can reduce some post-trade processing costs for cash securities by 20-25%, according to DTCC.

DTCC’s analysis showed that unconfirmed trades are 54 times more likely to result in a trade not being authorized by the counterparty in DTC’s trade settlement process than confirmed trades.

Matthew Stauffer, Managing Director, Head of Institutional Transaction Processing at DTCC and President and CEO of DTCC ITP LLC, said: “It is exciting and rewarding to see the industry adopt CTM as a very unique global platform. efficient for transaction matching. The benefits of migrating US volume from the legacy OASYS service to CTM are realized based on exceptional match rates and reductions in downstream payment exceptions.

DTCC’s global community of CTM customers has grown to more than 2,700 companies, including more than 1,500 buy-side companies, 1,200 sell-side companies and 120 custodians.

DTCC’s post-trade institutional processing service, ITP, now provides hands-off processing from post-execution to final settlement through an integrated and trusted market utility platform.

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