Cleartrade Exchange (CLTX) powers regulatory compliance through 3rd party reporting solution & connects to the Depository Trust & Clearing Corporation (DTCC)

28 May 2013

Electronic connection enables real-time reporting

Cleartrade Exchange (CLTX) has announced the launch of its third party reporting service, through an electronic connection to the Swap Data Repository owned by The Depository Trust & Clearing Corporation (DTCC). Derivatives contracts traded through CLTX can now be automatically reported to the DTCC in real-time, allowing members of the exchange to comply with CFTC trade reporting requirements.

2013 is a pivotal year in the global regulatory roadmap, with new trading rules affecting organisations in all jurisdictions. Under the Dodd-Frank Wall Street Reform and Consumer Act organisations trading certain types of Over the Counter (OTC) derivative instruments must report their transactions to regulated trade repositories.

Erin Hunzeker, Vice President DTCC, said: “We are delighted to work with Cleartrade Exchange. Providing reporting solutions for Cleartrade Exchange’s far-reaching participant base will further DTCC’s commitment to the OTC derivatives community globally. We look forward to this collaboration to serve those in need of regulatory reporting solutions as various jurisdictional mandates arise.”

“Cleartrade Exchange’s connection to the DTCC continues to demonstrate our commitment to providing services which enable our members to navigate the changing waters of global regulation smoothly,” said Richard Heath, Head of Product at Cleartrade Exchange. “The timing of this connection is important as it allows members to submit trades in line with the CFTC deadlines. This is just the start of our partnership with the DTCC and its Global Trade Repository (GTR), and over the coming months we will continue to work with them and with our members to ensure that CLTX provides seamless trade submission, in-line with European and Asian regulations.”

In addition to the electronic connection to the DTCC, Cleartrade Exchange also delivers its own Trade Hub, which provides a resource directly accessible by the exchange members and clients of its broker members, containing records of all historical trades processed through platforms provided by CLTX.

“The CLTX Trade Hub is an important tool for organisations which need to report historical positions, whether they have been trading directly with the exchange or through our broker members,” Heath explains. "These organisations are able to export a full record of their trades from the hub for easy onward submission.”

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