Platform provider Calypso Technology now interfaces with the Depository Trust & Clearing Corp.s Global Trade Repository service for European Markets Infrastructure Regulation reporting. DTCCs GTR is one of the six trade repositories approved by the European Securities Markets Association, and it offers regulators transparency into the $650 trillion OTC market.
The Calypso product was available in advance of the Feb. 12, 2014, deadline for EMIR trade repository reporting for all asset classes. The module is an extension of Calypsos OTC Clearing Solution for CCPs, clearing members and derivatives end users. It builds on Calypsos DTCC GTR for Dodd-Frank reporting on OTC derivatives, delivered in 2012, for interest rate and credit derivatives as well as FX products.
Calypso is helping our customers adapt to the dynamic requirements governing OTC derivatives today across diverse geographies and markets, said Charles Marston, chairman and CEO of Calypso.
As our strategic partner since 2005, Calypso enables UniCredit to react to the requirements of clients and regulators, said Lorenz Engel of UniCredit Business Integrated Solutions, IT provider of UniCredit group. The financial crisis altered the way we conduct OTC transactions today and the landscape in which we compete. Calypso gives us the agility to meet all market shifts in terms of conventions and regulations. Together with Calypso, we were able to implement Dodd-Frank and EMIR reporting for UniCredit as well as for clients delegating their reporting to UniCredit.
DTCC is committed to helping establish a robust, comprehensive reporting infrastructure for the derivatives market globally. We work with innovative third-party service providers like Calypso to build connectivity to our repository services, helping our mutual clients meet regulatory mandates in Europe and globally, said Stewart Macbeth, CEO, DTCC Derivatives Repository Limited.
