The Depository Trust & Clearing Corporation (DTCC) is preparing to expand its Global Trade Repository (GTR) service by incorporating a Markets in Financial Instruments Directive/Regulation (MiFID/R) Approved Reporting Mechanism (ARM). This addition aims to align with ongoing changes in transaction and trade reporting requirements.
Pending regulatory approval, the new service is anticipated to be launched in the UK by early 2026, with corresponding updates in the EU set to coincide with upcoming regulatory developments. The MiFID/R functionalities will enable financial firms to meet their transaction reporting responsibilities effectively under the regulation. In addition, users can expect supplementary services, including data quality analytics and smart tools designed for monitoring, control, and management of exceptions.
The service will encompass a specialized back-reporting channel, allowing for queuing and sequential processing to authorities, as well as a range of end-of-day reports which will help facilitate timely resolutions of any issues that may arise. DTCC’s GTR stands out as the sole industry-owned global provider of trade reporting services, supporting all major reporting regulations through a unified global platform.
The Managing Director and Head of Repository and Derivatives Services highlighted the company’s commitment to collaborating with key industry stakeholders to implement the GTR MiFID/R capabilities following necessary regulatory approvals. With extensive expertise in regulatory trade and transaction reporting, DTCC is well-positioned not only to help clients adhere to new mandates but also to support the modernization and optimization of their operational processes.
The integration of MiFID/R capabilities into GTR will unify derivatives and securities trade and transaction reporting on a single platform, presenting clients with the chance to enhance cost efficiency, governance, operational risk management, and control mechanisms.
As the introduction of MiFID III/MiFIR II regulations approaches, operational complexities are anticipated. The Director of Repository & Derivatives Services emphasized DTCC’s unique capability to aid clients in navigating these challenges while ensuring smooth implementation processes.
This upcoming expansion reflects DTCC’s ongoing efforts to adapt to the evolving needs of the financial industry and enhance compliance mechanisms for firms engaged in trading and reporting activities across multiple jurisdictions.