Description-DTCC ITP CTM
The comparison transaction service was set up as a result of the agreement between DCV and DTCC ITP (subsidiary of The Depository Trust & Clearing Corporation (DTCC) and Thomson Reuters) for the purpose of providing an automated platform which facilitates the communication between the parties thereto (broker investor) both for domestic and cross border transactions for all tasks performed after completing and registering transactions (post trade) and pre settlement.
In fact, the scope of action of this service is positioned between post trade and pre settlement, in an electronic and secure environment, following rules that had been agreed upon. Email or fax confirmations are therefore eliminated, and as a consequence of this there is time saving and a reduction of costs and risks.
This service may be complemented with another tool known as “Alert”, which purpose is providing a global base that enables the registry, modification and enquiry of settlement instructions.
- Operational Efficiency.
- Eliminates delays which create higher exception rates and failed transactions.
- Increase in the speed of operations’ processing.
- Cost reductions, as it removes errors in the hand written and oral communications, furthermore, it minimizes back-office work.
- MImproves SDA Rate (Same Day Affirmation Rate).
- Closing rate of operational details on negotiation day, which will mean a positive effect on the following cycles:
- Execution notification by the broker.
- Direct transmission of allotment details by the investor.
- Confirmation of those allotment details by broker.
- Confirmation of Investment.