Launch of third-party enrichment API

The Depository Trust & Clearing Corporation says that Omgeo Alert, which it describes as the industry’s largest and most compliant online global database for the maintenance and communication of account information and standing settlement instructions (SSIs), reached a key milestone with over six million settlement instructions. This is up 16 percent since the end of 2014. The DTCC says this achievement positions Omgeo ALERT to continue delivering on its goal of creating a single global SSI utility.

In addition to equity, fixed income, money market and derivatives (exchange traded and over-the-counter) support, DTCC’s Omgeo ALERT holds over 906,000 foreign exchange/cash settlement instructions, up 21 percent since the end of 2014, with a compliance rating of 99 percent.

Due to the critical nature around the timeliness of FX trades and with cash-related transactions turnover soaring since 2010, more financial institutions are automating their FX post-trade operations. The number of FX SSIs is expected to continue to grow significantly as global custodians and prime brokers adopt the service following recent DTCC product updates.