The Depository Trust & Clearing Corporation (DTCC) has partnered with data cloud firm Snowflake to transform how data is accessed, analyzed and shared across a number of its services.
By leveraging Snowflake’s data and cloud technology, DTCC aims to further promote market transparency, reduce risk, and provide greater operational efficiency.
The company is exploring several new opportunities, including risk management, regulatory reporting for derivatives and securities financing transactions, and institutional post-trade processing.
“It is an exciting time to be in financial services, as technology advances at a rapid pace and introduces new capabilities to enhance how the industry operates,” says DTCC chief information officer Lynn Bishop. “We have been using Snowflake’s platform since 2018 and view their data applications as an integral part of DTCC’s modernization strategy. This strategic initiative will enable us to build upon our success and further transform the data ecosystem, unlocking new insights and supporting greater transparency to protect markets, increase efficiency, drive business and propel the industry forward.”
Most recently, DTCC and Snowflake collaborated to facilitate the delivery of DTCC’s Kinetics data offerings to clients. DTCC Kinetics provides market insight across multiple asset classes.
Currently, DTCC Kinetics can access equity and fixed-income data products through Snowflake Marketplace. In the coming months, based on client feedback and demand, DTCC will expand DTCC Kinetics capabilities on Snowflake Marketplace to additional asset classes including exchange-traded funds, reference data, and corporate actions.