Dramatic movements in pricing and liquidity of money market securities are underway ahead of the October 14, 2016, implementation of U.S. Securities and Exchange Commission (SEC) rule changes for money market funds. Requirements as to the quantity and maturity of required collateral and restrictions on redemptions for money markets are raising new concerns. Participants are seeking a reliable source of money market transaction data to better understand the dynamics of today’s market.

DTCC’s Commercial Paper (CP) and Institutional Certificates of Deposit (CD) Data Service addresses this need by enabling close analysis of current and historical market activity via an automated feed of anonymized secondary settlement transactions data.

UNPARALLELED MARKET INSIGHT

The CP/Institutional CD Data Service is delivering critical transparency at a time of significant change in the market. The service allows traders, rate desks, analysts, risk managers, treasury departments, research teams and other market participants to track liquidity, prices and rates, and to create their own analysis.

  • Reveals liquidity
    • In a changing market it can become easier or more difficult to trade in or out of particular securities. By showing transaction activity by issuer as well as product type, the service makes market movements more transparent.
  • Offers price and rate visibility
    • The service expedites the tracking of prices and rates and their comparison to LIBOR and other benchmark rates.
  • Provides timely delivery of data
    • This service offers two delivery options, 1) end of day only and 2) intraday (which includes the end-of-day feed), to ensure users get updates when they need them.
  • Offers historical insights   
    • Historical data going back to 2014 helps buy- and sell-side front-office traders understand how their business performs over time and research teams conduct back-testing of price movements.

The CP/Institutional CD Data Service, sourced from the daily settlement activity of DTCC’s depository subsidiary, Depository Trust Company (DTC), provides the U.S. market’s most comprehensive database of daily anonymized settlement transactions – excluding primary IPA to dealer -- in money market securities. Each trading day DTC processes and settles approximately $300 billion in new issuances, maturities and turnaround delivery orders for CP and institutional CDs, generating detail-rich, multi-field records on these transactions.

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DTCC DataPro offers referential and activity-based data provisioning that delivers fixed and configurable data solutions sourced from DTCC’s transaction, reference, position and asset servicing data covering all major asset classes. As the largest depository in the world and the primary infrastructure in the U.S. for clearing, settlement and asset servicing, DTCC has unparalleled access to the financial markets from which this data is captured and provisioned. For more information visit DTCCDATA.com

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