Linedata Launches New Interface to DTCC’s CTM in Support of MiFID II and Industry Requirements

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  • Offers expanded asset class support to help clients meet requirements for automated post-trade processes
  • Allows global users to better manage the post-trade process and focus on core competencies and business differentiation

 PARIS, NEW YORK, BOSTON, HONG KONG and LONDON, September 19, 2017 – Linedata (Euronext Paris:LIN), the global solutions provider dedicated to the investment management and credit industries, today announced the extension of its 10-year strong partnership with The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure. Both firms continue to enhance clients’ workflows by launching an upgraded interface between DTCC’s strategic platform for the central matching of cross-border transactions, CTM, and its order management system (OMS) Linedata Longview, as the sector readies itself for MiFID II implementation in January 2018.

Linedata’s partnership with DTCC allows asset managers and hedge funds, using either deployed or hosted versions of Linedata Longview, to directly interface with CTM, which is a major component of DTCC’s Institutional Trade Processing product suite, thereby enabling all users to send trade allocations to their broker/dealers and automatically generate affirmations for matched trades in real-time. This helps to significantly reduce both costs and risks for Linedata users by offering a better way to monitor the post-trade workflow and any exceptions. Users also benefit from connectivity to DTCC’s OASYS, its U.S. domestic trade allocation and acceptance service that communicates trade and allocation details.

Linedata’s new Extensible Markup Language (XML) interface allows Linedata clients to match transactions across extended asset classes, including cash and fixed income instruments as well as futures, options, equity swaps (contracts for difference) and repurchase agreements (repos), allowing users to process multiple asset class trades on a single platform. The new interface leverages CTM’s latest PUSH technology, which pushes messages to clients in real-time as opposed to legacy technology that pulled messages on a scheduled basis. By leveraging MQ connectivity, Linedata can now more efficiently connect clients to their hosted OMS version, thereby avoiding the installation of older, FIX-based CTM interfaces into their environments.

Gary Brackenridge, Global Head of Asset Management at Linedata, said, “We’re pleased to extend our partnership with DTCC to enable our clients to better manage the post-trade process.” Matthew Nelson, Managing Director of Institutional Trade Processing at DTCC, added, “Linedata is a strategic partner, and we work closely to ensure that our over 50 mutual clients can seamlessly connect from Linedata Longview to DTCC’s CTM, which includes commission reporting features to meet MiFID II obligations. By upgrading their interface, our mutual clients can now do more in less time at lower cost in an environment of increasing global regulatory requirements.”

ABOUT LINEDATA

Linedata is a global solutions provider dedicated to the investment management and credit community, with close to 1250 employees in 20 offices across the globe. Linedata has been at the service of the financial industry from day one, and applies its market and client insight to provide innovative and flexible mission-critical software and services that help its clients grow in over 50 countries. As a pioneer for over 15 years with the set-up of SaaS infrastructure for the financial industry, Linedata remains committed to this model throughout the global financial community and for its full range of products. Headquartered in France, Linedata achieved revenues of EUR 166.8 million in 2016. This company is listed on Euronext Paris compartment B FR0004156297-LIN – Reuters LDSV.PA – Bloomberg LIN:FP.

ABOUT DTCC

With more than 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From operating facilities, data centers and offices in 16 countries, DTCC, through its subsidiaries, automates, centralizes and standardizes the processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management and information services across asset classes, bringing increased security and soundness to financial markets. In 2016, DTCC’s subsidiaries processed securities transactions valued at more than U.S. $1.5 quadrillion. Its depository provides custody and asset servicing for securities issues from over 130 countries and territories valued at U.S. $49.2 trillion. DTCC’s Global Trade Repository maintains approximately 40 million open OTC positions per week and processes over one billion messages per month. To learn more, please visit us at http://www.dtcc.com or connect with us on LinkedIn, Twitter, YouTube and Facebook.

For more information, please contact:

Linedata
Holly Clifford
Tel: +1 617 912 4844
Holly.Clifford@na.linedata.com

DTCC
Adam Honeysett-Watts
Tel: +44 (0)20 3116 2409
ahoneysett-watts@dtcc.com