DTCC DERIV/SERV TO EXPAND CREDIT DEFAULT SWAPS DATA OFFERING

Posted January 15, 2009

NEW YORK – The Depository Trust & Clearing Corporation (DTCC) is expanding the data its DTCC Deriv/SERV unit publishes on credit default swaps (CDS) registered in its Trade Information Warehouse to show additional detail on weekly transaction activity.

Starting January 20, the contract data posted on DTCC’s website will include a new Section III covering weekly trading activity registered in the Warehouse, such as new trades, terminations and assignments, for the previous week, in terms of gross notional values as well as number of contracts. This data will be provided in the aggregate as well as for single-name reference entity sectors and for major indices.

“By publishing CDS contract data each week from its Trade Information Warehouse, DTCC is delivering critical transparency to the credit default swaps market,” says Frank De Maria, DTCC Managing Director and Chief Operating Officer, DTCC Deriv/SERV. “Users of the Warehouse, market analysts, journalists and regulators have found our data tables to be an invaluable resource in providing a global view of weekly market activity.”

DTCC had announced on January 12 plans to support all central counterparty (CCP) solutions for CDSs through the Trade Information Warehouse (see previous News Update). DTCC began posting gross and net notional values and numbers of contracts for single-name reference entity sectors, indices and tranches on November 4, 2008. Supporting documentation that explains the data being published will also be posted on the website in conjunction with the release of the new data.