DTCC, Global Banks Prepare Comprehensive Data Utility
The Depository Trust and Clearing Corporation (DTCC) is working with a group of global banks to create a new comprehensive client reference data utility intended to address firms' legal entity hierarchy, know-your-customer and regulatory requirements.
The post-trade services vendor has signed a memorandum of understanding with a group of banks that includes Barclays, Credit Suisse, Goldman Sachs and JPMorgan Chase to work together on the project.
Peter Axilrod, DTCC's New York-based managing
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